Apple Plans $350 Billion Boost to U.S. Economy Over 5 Years, 20,000 New Jobs, and a New Campus
17th January 2018
As a shareholder, I’m delighted.
Apple plans to repatriate some of its overseas profits and expects to pay taxes of $38 billion when doing so, which Apple says is likely to be the largest payment of this kind ever made. That tax payment, combined with its U.S. investments and planned capital expenditures, will account for $75 billion of its projected $350 billion contribution.
Thank you, Donald Trump and Tax Reform.
Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum.
Now that’s just sad, which unalloyed good economic news has to be tagged as ‘political’.
UPDATE: Apple announces second headquarters, promises to bring 20,000 jobs
The plan nods to the overhaul of the U.S. tax code signed into law at the end of 2017. The reform package lowered corporate tax rates and created a one-time break on cash being held overseas. Apple will take advantage of that provision, bringing $250 billion of offshore cash back to the U.S., a move that will create a $38 billion tax bill for the company. “A payment of that size would likely be the largest of its kind ever made,” the statement notes.
I’m sure Democrats are already lined up to spend it. (‘Pay down the National Debt? What are you, crazy?’)
UPDATE: Apple stock climbs on word of planned US investments & repatriated cash
Thank you, Donald Trump and Tax Reform.
UPDATE: Report: Apple shares $2500 bonuses with employees following US tax changes