Apple ‘Thinks Differently’ to Lower Property Taxes
“Creativity is just connecting things”
You don’t get to be a trillion dollar company by playing completely by the rules. Just as Steve Jobs wanted to “think differently”, it appears as if Apple’s accountants are following suit. Apple has their Apple Park located in Santa Clara County and they believe they have paid their fair share of taxes.
Now, Apple is making the bold claim that a “cluster of properties” they own is worth only $200. Here’s the thing, Santa Clara County’s tax assessor valued the properties at a whopping $1 billion. According to the assessor’s offices, Apple currently has 489 open cases to dispute in a total property value of $8.5 billion. Currently, the company is paying $56 million in taxes, a number they feel unfair.
This isn’t the first time that Apple got creative with taxes. Last year, the company was forced to pay $15.4 billion of taxes back to Ireland after they utilized tax loopholes. In 2014, Apple was just paying a mere 0.005% of sales to taxes, an issue the EU Commission had a problem with.
Apple’s stock has been up this past week as trade tension with China is believed to be coming to an end.