How Apple Sidesteps Billions in Taxes
David Calvert for The New York Times
Braeburn Capital, an Apple subsidiary in Reno, Nev., manages and invests the company’s cash. Nevada has a corporate tax rate of zero, as opposed to the 8.84 percent levied in California, where Apple has its headquarters.
CHARLES DUHIGG and DAVID KOCIENIEWSKI
Published: April 28, 2012
link-
http://www.nytimes.com/2012/04/29/business/apples-tax-strategy-aims-at-low-tax-states-and-nations.html