Stories
Slash Boxes
Comments

SoylentNews is people

posted by martyb on Friday January 19 2018, @02:48AM   Printer-friendly
from the a-billion-here-and-a-billion-there...-now-you're-starting-to-talk-about-real-money dept.

Apple invests $350 billion (with a "B") in USA over next 5 years

https://www.apple.com/newsroom/2018/01/apple-accelerates-us-investment-and-job-creation/:

Apple today announced a new set of investments to build on its commitment to support the American economy and its workforce, concentrated in three areas where Apple has had the greatest impact on job creation: direct employment by Apple, spending and investment with Apple's domestic suppliers and manufacturers, and fueling the fast-growing app economy which Apple created with iPhone and the App Store. Apple is already responsible for creating and supporting over 2 million jobs across the United States and expects to generate even more jobs as a result of the initiatives being announced today.

Combining new investments and Apple's current pace of spending with domestic suppliers and manufacturers — an estimated $55 billion for 2018 — Apple's direct contribution to the US economy will be more than $350 billion over the next five years, not including Apple's ongoing tax payments, the tax revenues generated from employees' wages and the sale of Apple products.

[...] "Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made."

Using the new 15.5 percent repatriation tax rate, the $38 billion tax payment disclosed by Apple means they are doing a $245 billion repatriation. Apple had $252.3 billion in overseas cash as of the end of September quarter, according to SEC filings so that means the company is bringing back nearly all of its foreign cash.

Apple announces plans to repatriate billions in overseas cash and contribute $350B to US economy!

"Apple on Wednesday made a slew of announcements about its investment in and contribution to the U.S. economy in part because of the new tax law.

The headline from Apple is that it will make a $350 billion 'contribution' to the U.S. economy over the next five years, although it's unclear exactly how the company came to that number." https://www.cnbc.com/2018/01/17/apple-announces-350-billion-investment-20k-jobs-over-5-years.html


Original Submission #1 Original Submission #2

 
This discussion has been archived. No new comments can be posted.
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.
  • (Score: 1, Informative) by Anonymous Coward on Friday January 19 2018, @11:22AM (1 child)

    by Anonymous Coward on Friday January 19 2018, @11:22AM (#624647)

    1) What's the catch?

    All of it is going straight as dividends.

    2) What do we lose in order to gain this?

    A few trillion.

    Actually, the catch is that under new tax law, it no longer matters where the money is. So Apple would pay the greatly reduced tax rate whether it keeps money in Ireland or moves it to US and pays out dividends. Prior to the tax changes, they would pay no taxes as long as money wasn't in America... 1800s tax laws don't work with Internet commerce.

    Starting Score:    0  points
    Moderation   +1  
       Informative=1, Total=1
    Extra 'Informative' Modifier   0  

    Total Score:   1  
  • (Score: 2) by Azuma Hazuki on Friday January 19 2018, @09:02PM

    by Azuma Hazuki (5086) on Friday January 19 2018, @09:02PM (#624897) Journal

    That sounds about like what I suspected, yeah :/ Thank you for filling in the blanks there.

    --
    I am "that girl" your mother warned you about...