Apple Avoids Giant Global Tax Bill With Subsidiaries

(Reno, NV)  –  Apple reportedly avoids paying billions of dollars in state and local taxes by using subsidiaries in low-tax nations.  The “New York Times” says it’s easier for technology companies like Apple to move their profits to tax-friendly states and countries, because some of their tax revenue comes from digital products or royalties on patents.  The California-based company also collects and invests its profits from a small office in Reno, Nevada where there is no corporate income tax.  Apple tells the “Times” it has complied with all laws, and its U.S. operations generated some five-billion dollars in state and federal income taxes in the first half of the current fiscal year.