Apple's tax heaven cash repatriation will be a windfall for Uncle Sam

Apple's tax heaven cash repatriation will be a windfall for Uncle Sam
How much does the Treasury stand to gain if Apple takes advantage of the one-off 15% tax rate for repatriating overseas cash that was introduced in the bill that Congress and Senate just passed? How about $39 billion?

Yep, that's the amount that the government will get richer with if Apple brings home most of its $252 cash hoard stuffed in tax heavens. In fact, Apple seems to have already set aside $36 billion for exactly that purpose, so it could intend to repatriate its holdings once and for all, and stop being scrutinized for using an offshore paradise or two to avoid excessive taxation, as most big multinationals do.

The thing is, however, that Apple's patent royalties accounting trick that was mostly used to justify the cash parked overseas, is being closed as a loophole by the tax cut bill. Apple will have to pay a very similar amount now, no matter if it chooses to continue using the intellectual property loophole, or to simply bring the cash home, and pay lower US taxes going forward. One thing is for sure - companies are already starting to adjust to the new, lower tax realities, and AT&T even celebrated the bill's passage by granting a $1000 bonus to its more than 200,000 employees.

source: Reuters

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52 Comments

1. Panzer

Posts: 282; Member since: May 13, 2016

But but I thought this tax bill was for the rich and the evil corporations. Closing tax loopholes so they can't hide their money and they have to pay taxes on it in this country. Those evil Republicans.

2. daniyal_05

Posts: 93; Member since: Nov 15, 2017

But but iphoneX debacle will kill apple

3. cnour

Posts: 2305; Member since: Sep 11, 2014

iPhone X debacle!!!!! You need a doctor and quickly please.....

9. Ralph.

Posts: 249; Member since: Dec 20, 2017

You need to see and ask God to help you. The doctors can't.

5. lyndon420

Posts: 6733; Member since: Jul 11, 2012

Agreed...they really screwed the pooch this time.

10. Peacetoall unregistered

bu-but net neutrality would literally kill people and - nd free bonus is fascism.

7. piyath

Posts: 2445; Member since: Mar 23, 2012

Democrats are running and hiding in the jungle right now. Fake media has nothing to say about this now LOL.

12. Peacetoall unregistered

that I can agree with you 100%. you may be a apple fanboy just like im samsung fan but you're not a crazy commie

38. makatijules

Posts: 835; Member since: Dec 11, 2017

They aren't hiding. They didn't support the bill because it gives tax breaks to people who don;'t need them. The US economy is driven by consumer spending. So the middle class and poor people will have less cash to spend and this cant buy things. Republicans are just gonna add more debt to the bottom line. Yet They cry debt when Democrats wanna provide for all and not just rich people. Taxbreaks don't create job, product demand creates jobs. If people cant buy what you sell, no tax break will change that. Every time Democrat's fix things, they come and spend all the money and drive us back down. Next time Democrats get in office, which will be next President, they shoudl just let the government crumble to the ground, providing Trump doesn't get Korea to blow us up first.

42. Furbal unregistered

What in the hell are you talking about? 84% of people are getting tax cuts. Almost everyone making under 600k will be paying less taxes.

43. Peacetoall unregistered

he is our techie after all.

51. HansP

Posts: 542; Member since: Oct 16, 2011

The people earning less than a million only gets temporary tax cuts that will end conveniently AFTER the next elections. They're also funding this by taking away fundamental welfare that saves those people earning less than that million a year a lot of money. Spoiler alert, those things will not be reinstated when they revert the taxes on low and middle class income brackets.

45. Donforreal

Posts: 60; Member since: Oct 12, 2012

i hope that was not sarcasm

8. kiko007

Posts: 7493; Member since: Feb 17, 2016

Why is this site full of blind Trump supporters? You do realize we have the ability to calculate economic impact of this bill beyond the scope of two years, right? After that period the only real group of people going to see economic prosperity already have it, while you dips**ts are eating Top Ramen cause you got laid off.

13. Peacetoall unregistered

keep crying you racist bigot.

14. kiko007

Posts: 7493; Member since: Feb 17, 2016

Go f**k yourself, Trumptard. One of you disgusting vermin calling anyone racist is the height of hypocrisy.

15. Peacetoall unregistered

you judge people by their eating habit. . Racist commie you go f**k yourself. shame on you.

17. kiko007

Posts: 7493; Member since: Feb 17, 2016

"You judge people by their eating habit." Yes, I do actively judge people who WILLINGLY eat s**t with no recourse except mass ignorance. Sue me. "Racist commie you go f**k yourself. shame on you." Please explain to me how I'm a racist. Seriously, I don't think you know the actual definition of that word and all it's implications, let alone how to use it properly. Are Trump supporters their own race now?

33. sissy246

Posts: 7070; Member since: Mar 04, 2015

"Yes, I do actively judge people who WILLINGLY eat s**t with no recourse except mass ignorance. Sue me." I don't agree with this through. If you want to eat nothing but veggies that your business. If some of us like to eat meat that is are business. It sure doesn't make either one of us better then the other.

34. kiko007

Posts: 7493; Member since: Feb 17, 2016

While that's true, both of those groups have precious reasoning behind their choice in diet. Why on Earth would anyone eat s**t?

40. makatijules

Posts: 835; Member since: Dec 11, 2017

Well I've seen you use racist wrong too. So.... Oh yeah, you were told recent that Face ID, would unlock with people with Asian decent, because Asians all pretty much look the same, because their faces are generic to the point, no one can identify them. And you labelled that person a racist and it turn out that ended up being true. Several Asian related and not related have been able to unlock the other person iPhone X. You labeled the person a racist, and they didn't even make a racist comment. So how does it feel to be labelled something you aren't? Doesn't feel good. DOES IT!!!!

16. Ralph.

Posts: 249; Member since: Dec 20, 2017

There is a lot to fear in a Trump presidency—economic chaos, entrenched bigotry and xenophobia, the demise of American international power. But there’s just as much to fear in the American people and, especially, in the white America that elected Trump. White voters supported Trump overwhelmingly. White men were his strongest backers, although white women also favored him, with older white women, Evangelical white women, and white women without college degrees helping to carry him to victory. “Economic anxiety” was the story of this election. But the economy is good. White men with college degrees voted for Trump while working-class voters of color did not. And there is the simple fact that white Americans just voted in a president who was endorsed by the Ku Klux Klan. That isn’t anxiety about the economy—it’s anxiety about the changing face of power in America. I love and voted for Trump You and every black immigrants and migrants hate trump, because America belongs to Whiteman only. Just like how Europe and UK is. Only whites. So go screw yourself and leave Whiteman land and go back to your sole country....

18. kiko007

Posts: 7493; Member since: Feb 17, 2016

There are several levels of retard, and you just went full. Never go full retard... ever.

20. Peacetoall unregistered

pot meets the kettle . one Racist bigot meets the another Racist.

22. kiko007

Posts: 7493; Member since: Feb 17, 2016

Fam, for real, learn to use that word properly. You've used it what... 5 times without a shred of evidence as to why I am racist. Hell, if anything, I've made it pretty clear that I despise people like Ralph because of their obsession with the hue of one's skin. Human beings are beautiful because we're different, and no skin tone is better than any other, period.

24. Ralph.

Posts: 249; Member since: Dec 20, 2017

Loser, that's what you do when you lose an argument. You disappear or start to attack swear at people, instead off debating...

27. kiko007

Posts: 7493; Member since: Feb 17, 2016

I'm not debating cockroaches like you for one simple reason: Why bother? You're already a bigoted PoS, and nothing I say is gonna change that, so I'm not going to waste the keystrokes. Just know that the world would be a much better place if you'd depart it rather quickly.

26. Ralph.

Posts: 249; Member since: Dec 20, 2017

Dumb kid. Whiteman are very clever, that's why they rule the country... Ross charles

31. kiko007

Posts: 7493; Member since: Feb 17, 2016

"If you can convince the lowest white man he's better than the best colored man, he won't notice you're picking his pocket. Hell, give him somebody to look down on, and he'll empty his pockets for you." -Lyndon B. Johnson All you're doing is perpetuating a long held stereotypical belief that was fabricated to empty your wallets against your own interests. Fools, the lot of you, incompetent fools!

28. sissy246

Posts: 7070; Member since: Mar 04, 2015

Don't agree with you much but this time, WELL SAID!!!!!

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