The Motley Fool - Apple (Nasdaq: AAPL - News) revealed last week that it's setting up a Nevada subsidiary dubbed Braeburn Capital to manage its $8.5 billion-plus cash hoard. By incorporating the entity in Nevada, Apple avoids the state corporate income tax and capital gains tax it would have to pay in California. In addition, Nevada doesn't share its data with the IRS, though I don't think that's a major factor. In my opinion, saving money on the corporate and capital gains taxes is a smart idea.
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