Apple taxes

iEVADE: Apple used a complex international network of subsidiaries to drastically reduce its tax burden over the past several years, according to a Congressional investigation reported by The New York Times. With these entities incorporated in places like Ireland but headquartered in California, they were able to shield tens of billions in income from taxation as the company made record profits, the report charges. CEO Tim Cook is slated to testify on the matter tomorrow; the Times expects him to refer to Apple as “the largest corporate income tax payer in the U.S., having paid nearly $6 billion in taxes to the U.S. Treasury” in the last fiscal year. "If they just legalize it we can tax it all we want, man," explained a UMPG staffer. "It doesn't matter if you use an Apple or a bong or whatever. Wait ... what are we talking about?" (5/20p)