Apple Paid $6 Billion in Federal Income Tax in 2012

 

The New York Times reports on a congressional investigationinto the tax policies of technology giants, including Apple.The Senate Permanent Subcommittee on Investigations is nearly finished with a year-long investigation into the methods that large technology companies use to avoid paying U.S. corporate income tax. Apple, for its part, allocates some 70 percent of its income to overseas affiliates where tax rates are much lower.

It appears that all of Apple’s techniques are legal by U.S. law, though some politicians have said that corporations going to extraordinary lengths to avoid paying income tax and that they are violating the spirit of tax laws.