Taxes

12:48pm

Wed May 22, 2013
The Two-Way

Oregon's Cash-Strapped Counties Reject Public Safety Levies

Originally published on Wed May 22, 2013 1:06 pm

A yard sign opposes a local tax increase to fund public safety in Josephine County, Oregon. The ballot measure reportedly failed by a thin margin.
Amelia Templeton OPB

Two Oregon counties have reportedly rejected property tax increases that would have funded law enforcement and public safety services. The counties once received federal timber subsidies, but those days are over — and now they're scrambling to pay for essential services.

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1:07am

Wed May 22, 2013
Planet Money

Why Apple (And Lots Of Other Companies) Wound Up In Ireland

Originally published on Wed May 22, 2013 7:35 am

Andy Wong AP

Apple was criticized in a Senate committee hearing Tuesday for using complex accounting to minimize the corporate taxes it pays. One key piece of the company's tax strategy: It funnels lots of its profits through subsidiaries in Ireland.

Offering low corporate tax rates has been a fundamental part of Ireland's economic strategy for decades — a way to get foreign companies to set up operations in the country.

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2:24am

Tue May 21, 2013
Business

CEO Cook To Defend Apple Before Senate Committee Hearing

Originally published on Tue May 21, 2013 9:13 am

Apple CEO Tim Cook speaks during an introduction of the iPhone 5 in San Francisco on Sept. 12. The Senate Permanent Subcommittee on Investigations says Apple is paying billions of dollars less than it should in taxes each year, taking advantage of technicalities in U.S. and Irish tax laws.
Eric Risberg AP

Giant technology firm Apple is paying billions of dollars less than it should in U.S. taxes each year, according to a report by the Senate Permanent Subcommittee on Investigations. In a hearing Tuesday in Washington, D.C., Apple CEO Tim Cook will defend the company.

The subcommittee's report says Apple avoids the tax payments mainly by shifting profits to three subsidiary companies in Ireland. The investigation found Apple is taking advantage of technicalities in U.S. and Irish tax laws to avoid paying any tax on a huge portion of its profits.

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1:34pm

Tue May 14, 2013
Planet Money

Who Hides Money Outside The Country?

Originally published on Tue May 14, 2013 5:15 pm

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Belize, the home of our offshore company, Unbelizable.
Nagyman Flickr

Over the past decade, some 39,000 people have come forward voluntarily to tell the IRS about offshore money they haven't been paying taxes on. This group provides a small window into the world of people who are hiding money in offshore havens. (It's a world we've been trying to learn more about, partly by setting up an offshore company in Belize.)

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11:09am

Thu May 9, 2013
The Two-Way

Colorado Lawmakers Set Taxes And Rules For Marijuana Sales

Colorado lawmakers approved two taxes on marijuana — a 15 percent excise tax, and a 10 percent sales tax. A photo depicts a quarter of an ounce, left, and one ounce of marijuana, along with a handful of rolled joints at a Denver dispensary.
Ed Andrieski AP

Colorado is set to become the first U.S. state to regulate and tax sales of recreational marijuana, after lawmakers approved several bills that set business standards and rules. Legislators expect enforcement of the rules to be paid for by two taxes on marijuana — a 15 percent excise tax, and a 10 percent sales tax.

Other measures included in the package set limits on how much marijuana visitors to Colorado can buy (a quarter of an ounce), as well as a limit on how many cannabis plants a private citizen can grow (six).

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