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Apple leaves overseas cash out of its latest quarterly report

Summary:
Effect of the Jan. 1 tax changes... The tax regime signed into law in December by President Donald Trump requires American-based companies to pay tax on money they’ve stashed outside the U.S. The new rules set a one-time rate of 15.5 percent on cash and 8 percent on non-cash or illiquid assets. Payments can be made over eight years. Previously, companies had to pay 35 percent, but only if they brought the money back to the U.S. Apple leaves overseas cash out of its latest quarterly report https://t.co/4wdvCujMRP pic.twitter.com/8jL39rCl8p — Bloomberg Markets (@markets) May 11, 2018

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Effect of the Jan. 1 tax changes...

The tax regime signed into law in December by President Donald Trump requires American-based companies to pay tax on money they’ve stashed outside the U.S. The new rules set a one-time rate of 15.5 percent on cash and 8 percent on non-cash or illiquid assets. Payments can be made over eight years. Previously, companies had to pay 35 percent, but only if they brought the money back to the U.S.

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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