Homicides in Chicago in 2012: 535 2012 Chicago Gang Violence Statistics by Crime in Chicago

Up 21.3% from 2011

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Apple does not use tax gimmicks Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

According to Apple. According to a Senate Report on offshore tax havens, Apple should be paying tens of billions more in taxes due to shielding of income through Irish shell companies

If you’re keeping track at home, they’re using a Double Irish with a Dutch sandwich

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Pays billions of dollars annually to the US Treasury in corporate income and payroll taxes. Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

Nearly $6 billion to be precise. But according to a Senate report, Apple avoided additional tens of billions of dollars in U.S. taxes on its income by shifting the funds through a global web of offshore entities — including three that had no tax residency in any nation.

The three entities were run by some of Apple’s top executives but were located, on paper, in Ireland, though they in some cases had no employees. One reported $30 billion in net income for 2009-2012, yet filed no corporate tax return and paid no income taxes to any government during those years, according to the report.

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Apple is likely the largest corporate income tax payer in the US, having paid nearly $6 billion in taxes to the US Treasury in FY2012. These payments account for $1 in every $40 in corporate income tax the US Treasury collected last year Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

According to Forbes these numbers check out. Apple is #1 in taxes paid to the US Treasury, while energy giants ExxonMobil ($31 billion) and Chevron ($20 billion) are #1 and #2 in worldwide corporate taxes paid

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Founded by Steve Jobs and Steve Wozniak nearly four decades ago in a residential garage Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

According to legend, Jobs and Wozniak founded Apple in Jobs' garage — Wozniak claims it was Jobs' bedroom, but either way it was in his modest Los Altos, CA home. It was only a couple of years later that they moved to Cupertino, not far from the company’s current campus, on Bandley Drive.

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AOI’s investment income earned on its cash holdings is taxable to Apple Inc., because AOI is a CFC that is wholly owned by Apple Inc. It should be emphasized that AOI does not reduce Apple’s tax bill in the US. Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

According to Apple, “Like AOI, ASI is incorporated in Ireland, is not tax resident in the US, and does not meet the requirements for tax residency in Ireland. ASI is an operating company with employees who manage the procurement and supply chain for Apple products sold abroad by ADI. Accordingly, ASI files an Irish corporate tax return and pays taxes in Ireland. ASI’s investment income is taxed in the US on Apple Inc.’s tax return as Subpart F income. The fact that ASI is not tax resident in Ireland does not reduce Apple Inc.’s US tax liability”

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Apple’s Irish subsidiaries employ nearly 4,000 people Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

According to Apple, this number of employees fluctuates with seasonal demands and new product launches

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At least twelve public and private pension funds in the US held Apple stock as their top equity investment, including funds for public employees in Michigan, Ohio and Kentucky Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

These pension funds include the Michigan Department of Treasury, the State Teachers' Retirement System of Ohio and the Kentucky Teachers’ Retirement System. The State of Wisconsin Investment Board, the Ohio Public Employees Retirement System and the Arizona State Retirement System each identifies Apple stock as its second largest holding. At a share price of $450 and annual dividend of $12.20 per share, these six funds’ combined holdings amount to more than $2.3 billion and entitle them to annual dividend payouts of approximately $62 million.

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The Company’s FY2012 total US federal cash effective tax rate was approximately 30.5% Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

This calculation is a reflection of federal taxes Apple paid against US pretax earnings, not a calculation of Apple’s final tax liability for FY2012

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Apple, a California company Testimony Before the Permanent Subcommittee on Investigations (May 21, 2013) by Apple Inc. (Ft. Sam Biddle & Tim Cook)

Apple is headquartered in Cupertino, CA. A rendering of their new offices, slated to be finished in 2016

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