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Apple’s 22-Year Tax Break Part of Billions in California Bounty (1)

Source: https://news.bloombergtax.com/daily-tax-report-state/apples-22-year-tax-break-part-of-billions-in-california-bounty - Apr 25, 2019

Apple Inc. was on the brink of bankruptcy in 1997 when it cut a deal with the city of Cupertino, California.

In exchange for keeping its headquarters in the Silicon Valley city, Apple would get half of Cupertino’s share of sales tax revenue generated by the company’s sales to businesses in California for at least five years.

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Category: General Business