My word, isn\’t this just appalling!
Look at that last one: even the IRS can’t find out what’s happening in Nevada!
So, the nub of it is that if Braeburn keeps its cash out of the US and manages it from Nevada its tax bill on $117 billion or more of cash may be $200. It could be more, but it need not be.
It makes me hate the Apple I’m writing this on.
Why can’t a great company have great ethics? Because right now Apple stinks.
And then someone has the bright idea of going and looking at Apple\’s accounts.
And on page 55 we see what the dosh is invested in. And earlier we see what the split between invested overseas and invested in the US is.
You know, this idea that a company\’s accounts are in its accounts?