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Entries in Cupertino (2)

Sunday
Apr292012

Apple Uses Legal Strategies to Avoid Paying Millions in Taxes 

Photo by Kevork Djansezian/Getty Images(NEW YORK) -- Apple, the most lucrative technology company in the world, has used legal strategies to avoid paying millions of dollars in taxes in California and 20 other states, The New York Times reports.

Although its headquarters are based in Cupertino, California, where the state's corporate tax rate is 8.84 percent, the technology giant put an office in Reno, Nevada, where the corporate tax rate is zero. Additionally, Apple has subsidiaries in other low-tax locations such as Ireland, the Luxembourg, the British Virgin Islands and Ireland, according to The Times.

While most companies employ strategies to reduce their taxes, Apple's savings are especially high--Wall Street analysts project that the technology company could bring in up to $45.6 billion this fiscal year, The Times says.

Copyright 2012 ABC News Radio

Tuesday
Sep272011

Apple: 'Let's Talk iPhone' on Oct. 4

Apple(CUPERTINO, Calif.) -- Apple fans, mark your calendars. The event you’ve been waiting on for months finally has a date.

On Tuesday, the Cupertino, California-based company issued an advisory to the media for a “special event” taking place Tuesday, Oct. 4, at the company’s headquarters.

The headline on the email: “Let’s talk iPhone.”

It has been widely speculated for some time that Apple would unveil its fifth-generation iPhone – or iPhone 5 – at some point during mid-to-late year 2011.

On Aug. 24, after several years of failing health, Apple co-founder Steve Jobs stepped down from his role as the company's chief executive officer, writing in a letter to the company's board of directors that he could no longer meet the demands that the role required.

"I have always said if there ever came a day when I could no longer meet my duties and expectation as Apple's CEO, I would be the first to let you know," Jobs said.  "Unfortunately, that day has come."

Jobs, however, stayed with the company, becoming the chairman of the board of directors; the former chief operating officer, Tim Cook, was named as Jobs' successor.

It is unclear whether Jobs will appear at the Oct. 4 event.

Copyright 2011 ABC News Radio







ABC News Radio