Slashdot Mirror

← Back to Stories (view on slashdot.org)

Apple Argued That Buildings at Its Headquarters Were Worth $200, Not $1B, To Reduce Its Tax Bill: Report (sfchronicle.com)

Posted by msmash on from the they-were-estimating-it-wrong dept.

Apple argued that buildings it owned around Cupertino, where it is headquartered, were only worth $200 instead of the $1 billion tax assessors deemed in 2015, according to appeals reviewed by the San Francisco Chronicle. From a report: The report characterized the dispute as part of an aggressive strategy by Apple to lower its tax bills. According to the Chronicle, Apple has 489 open appeals in tax disputes over property assessed at $8.5 billion in Santa Clara County, Calif., dating back to 2004. Those appeals include the $1 billion building assessed by tax officials, as well as another $384 million property that Apple also claims is worth $200. Apple is now valued at $1 trillion. It is also the county's biggest taxpayer, paying $56 million in the 2017-2018 tax year.

7 of 536 comments (clear)

  1. tax frauds by fluffernutter · · Score: 5, Interesting

    I know a guy who got a dog and called it a company mascot and had his company pay for all the pet supplies. People will try anything, it doesn't make it right.

    --
    Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
  2. They don't want to pay taxes by mark_reh · · Score: 5, Interesting

    and then they'll complain that the schools aren't producing the highly educated people they need to fill jobs, so they need more H1B visas. This same crap has been going on in Silicon Valley for decades.

    1. Re:They don't want to pay taxes by fluffernutter · · Score: 5, Interesting

      This is also why public transit systems are crumbling.

      --
      Laws are rules for the court, but merely a bottom bar to hit for life. Think beyond laws in your actions always.
    2. Re:They don't want to pay taxes by Ranbot · · Score: 4, Interesting

      If anyone finds information on how Apple calculated that $200 valuation please share. I searched but found nothing. An AppleInsider article did say this though: "It is unclear if the $200 valuations are for hundreds of dollars or are in fact for $200 million." ( https://appleinsider.com/artic... )

    3. Re:They don't want to pay taxes by Talderas · · Score: 2, Interesting

      I read this and I thought that $200 has to be a misunderstanding. I read the article and it repeats $200. I still think there's an error in reporting here and that Apple is valuing the property and building at $200M. That at least seems within the realm of sensibility because there's no way accountants or assessors at Apple would value the campus at $200.

      --
      "Lack of speed can be overcome. In the worst case by patience." --Znork
  3. There's a simple solution to this crap... by frank_adrian314159 · · Score: 4, Interesting

    Let people set their own valuations, but the valuation is also a public tender for sale at that price.

    --
    That is all.
  4. Re:Building Contents? by Greyfox · · Score: 3, Interesting

    I'd eminent domain that shit for $200 and build a homeless shelter there.

    --

    I'm trying to teach myself to set people on fire with my mind... Is it hot in here?