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Apple is once again under scrutiny for its aggressive use of tax strategies that lower or eliminate U.S. taxes on billions of dollars in overseas earnings.  Previously, its use of Nevada as a tax home was noted for its effectiveness in reducing state income taxes.  A Dutch-Irish sandwich is a tax strategy employing companies from those countries. I am re-publishing this post which first appeared in April of 2012.

(To tune of “I’m in Love with a Wonderful Guy,” by Rogers and Hammerstein, from Broadway Musical show “South Pacific)

Hold your scorn, it is perfectly legal
Lowering taxes to keep profits high
Isn’t it part, of our system and smart?
Apple’s eating the whole apple pie

Who has headquarters in Cupertino?
Yet Reno’s its tax home and I’ll tell you why
Nevada’s a state, with a zero tax rate
Apple’s eating the whole apple pie

Why pay taxes like Wal-Mart or Sachs is?
Grand stores housing products to sell
With a royalty, customers loyally buy
And from where who can tell

Dodging tax with a Dutch-Irish Sandwich
That is a plan which is cleverly sly
Some say its wrong, not the greedy and strong
Apple’s eating the whole apple
Eating the whole apple
Eating the whole apple pie

Lyric © 2012 by Robert S. Steinberg, Esquire
All rights reserved

* This parody song lyric comments on certain aspects of our corporate tax system that have been the subject of much legitimate debate. It should not to be construed as a reflecting the writer’s views on Apple or as an indictment of Apple’s tax strategies.  Apple is an outstanding American company that pays a large amount of taxes and employs legal means to lover effective tax rates on its profits.  The question is not whether Apple has done anything wrong, it has not, but whether our tax system should permit these complex corporate tax deferral strategies.

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