Apple (AAPL) is proving to be as good at avoiding taxes (here and internationally) as it is at designing smartphones, taking advantage of tax laws designed for the industrial, not the digital economy. The company had an overall tax rate of less than 10% in 2011, vs. about a 24% average for non-tech companies, reports the NYT, seemingly laying out a blueprint for politicians to shift attacks from big oil to big tech. Ugh. [View news story]
Apple (AAPL) is proving to be as good at avoiding taxes (here and internationally) as it is at designing smartphones, taking advantage of tax laws designed for the industrial, not the digital economy. The company had an overall tax rate of less than 10% in 2011, vs. about a 24% average for non-tech companies, reports the NYT, seemingly laying out a blueprint for politicians to shift attacks from big oil to big tech. Ugh. [View news story]