December 2, 2013 |
WASHINGTON - Amazon.com Inc. and other online retailers suffered a legal setback on Cyber Monday as the Supreme Court turned away their challenge to a New York law that requires Internet companies to collect sales taxes. Delivered on one of the year's busiest online shopping days, the court's decision is expected to accelerate the move by states to try to capture the taxes due on online purchases made by their residents. The court's refusal to take up the issue also increases pressure on Congress to settle the long-standing dispute between online and conventional bricks-and-mortar retailers and to enact legislation standardizing online sales tax collection.
November 1, 2013 |
MEXICO CITY - Hardly had the ink dried on President Enrique Peña Nieto's contentious $14-billion tax plan when big business - especially the powerful maquiladora industry on Mexico's border with the U.S. - raised a loud voice of protest, vowing to fight a package that opponents say will cripple industry. Major business groups, after weeks of unsuccessful lobbying, said Friday they would mount legal challenges to block the plan, which won final congressional approval Thursday and would raise taxes on border enterprises including the thriving maquiladoras, as the export-centered assembly plants near the border are known.
May 23, 2013
Re "Apple's U.S. tax shelters faulted," May 21 French novelist Honoré de Balzac once wrote, "The secret of a great success for which you are at a loss to account is a crime that has never been found out, because it was properly executed. " That statement describes Apple Inc. perfectly, except it has finally been found out. Thankfully, Sen. Carl Levin (D-Mich.), chairman of the Senate Permanent Subcommittee on Investigations, seeks to expose Apple's fraudulent tax policies.
May 22, 2013 |
Apple, America's richest, most innovative consumer technology company, is also the most creative in hiding billions of dollars in profits from the taxman, according to congressional investigators. But on Tuesday in testimony before the Senate Permanent Subcommittee on Investigations, Apple CEO Tim Cook pointed out that his company's creative tax sheltering, far from being illegal, is made possible by the loophole-ridden tax laws of the United States. Cook told the senators that Apple paid a $6-billion tax bill to the federal government last year.
May 21, 2013 |
WASHINGTON -- Apple Inc. Chief Executive Tim Cook and other company officials will be in a legendary hot seat Tuesday as they try to defend the company's tax practices -- in front of Sen. Carl Levin. The veteran Michigan Democrat chairs the Senate's Permanent Subcommittee on Investigations and is known for his aggressive and lengthy interrogation of witnesses he brings before the panel after his staff conducts detailed investigations. The subcommittee's latest probe found that Apple used a web of foreign subsidiaries to shelter billions of dollars in overseas income from U.S. taxes.
CALIFORNIA | LOCAL
May 9, 2013 |
Stephanie Nordlinger, who lives in a modest Baldwin Hills tract home, has been reading with interest the news stories about computer magnate Michael Dell and his low, low property taxes. Last week, the Times reported that Dell has saved more than a million dollars a year in taxes on a landmark Santa Monica hotel by exploiting a gaping legal loophole in the rules that govern how Proposition 13 is applied. By bringing his wife and two investment advisors into the 2006 deal for the Fairmont Miramar Hotel, my colleagues Jason Felch and Jack Dolan reported, Dell has so far been able to keep his taxes based on the hotel's 1999 assessed value of $86 million, rather than the $200 million he paid.