taxes

Apple gets key endorsement for Nevada data center

Apple is one step closer to being offered $89 million in tax breaks to set up a data center in Biggest Little City in the World, aka Reno, Nev.

The Nevada Board of Economic Development approved a deal on the plan today that was initially negotiated by Reno's city council, according to the Associated Press. Despite, the state being closer to inviting Apple to set up shop, there are still a few more logistics the government must sort out.

Nevada Governor Brian Sandoval, who backs the deal, called the board's decision a "win" for the state, … Read more

Senate to debate whether online retailers must collect sales tax

The Senate could soon decide whether consumers will have to shell out taxes on more of their online purchases.

The U.S. Senate Committee on Commerce, Science, and Transportation is scheduled to hold a hearing today to examine the current policy that exempts many online retailers from collecting sales tax. The present ruling is based on a 1992 Supreme Court decision, which found that businesses without a physical presence in a state are not required to collect state sales tax.

But up for debate this afternoon is the Marketplace Fairness Act (PDF), which would reverse the Supreme Court decision. Senators … Read more

5 citizens who left the U.S. to avoid paying tax

Renouncing U.S. citizenship

With news this week that Denise Rich, ex-wife of a renowned tax-dodger, is renouncing her U.S. citizenship and thereby avoiding taxes, we decided to take a look at other successful citizens who became ex-pats in order to avoid filing a 1040. Apparently it's getting more common as the IRS cracks down on undeclared and untaxed foreign holdings.

Tax attorney Jim Duggan says it's not too difficult for an American to renounce U.S. citizenship. All it takes is an appearance at a U.S. embassy or consulate, some paperwork, and an exit … Read more

Sprint seeks dismissal of NY suit alleging tax fraud

Sprint Nextel today filed a request to dismiss a lawsuit alleging it had stiffed New York out of $100 million in taxes.

Sprint filed its request to a New York state court, arguing that its practices don't violate New York law.

In April, New York Attorney General Eric Schniederman filed his lawsuit against Sprint. He sought a penalty of $300 million for the company's alleged failure to pay taxes.

Sprint at the time denied the allegations. The company declined to comment beyond the filing today.

The company, however, noted in its filing that New York was attempting to … Read more

iPhone makes the 'Leap' into the prepaid zone

We're dropping down from space, getting touchy with Windows 8 and leaping over a new iPhone carrier:

The iPhone has taken a leap into the prepaid, no-contract world. Beginning in late June, the prepaid carrier Leap Wireless will sell Apple's iPhone under the Cricket service. This makes it the first carrier to sell the iPhone without a contract. But don't expect the iPhone to come cheap. The 16 GB iPhone 4s will be priced at $500 dollars.

So that leaves T-Mobile in the corner, just tapping its foot waiting for its turn to dance with Apple. With … Read more

New Jersey residents to pay sales tax on Amazon purchases

New Jersey residents ordering from Amazon will pay sales tax on their purchases next year, the state's governor announced today.

Gov. Chris Christie said his office has reached an agreement with the company, which plans to begin construction on two "state-of-the-art" fulfillment distribution center facilities in New Jersey next year. While the center is expected to create several thousands jobs, Amazon will also start collecting taxes as part of the deal, according to a press release.

Amazon will start collecting sales tax by July, 1 2013, unless federal legislators can establish legislation for sales tax collection from out-of-state retailers … Read more

Facebook's Saverin: I'm a 'global citizen,' not a tax dodger

Facebook co-founder Eduardo Saverin, who is simultaneously becoming one of the richer and more reviled people around, wants to set the record straight.

Saverin, who helped Mark Zuckerberg launch Facebook in 2004, will become an instant billionaire when the social-networking giant goes public in its massive IPO later this week. But Uncle Sam's tax bite is expected to be tempered by the fact that Saverin, a Brazilian who immigrated to the U.S. as a boy to avoid kidnapping plots, has renounced his U.S. citizenship.

The recent revelation has raised the consternation of many, including my ZDNet colleague … Read more

Tim Cook visits Capitol to speak with House Speaker Boehner

A mysterious photo surfaced on U.S. Speaker of the House John Boehner's blog today -- it's of him chatting with Apple CEO Tim Cook in a formal setting.

There's no text to go with the photo, only the caption: "Speaker John Boehner met with Tim Cook, CEO of Apple Inc., at the U.S. Capitol today."

There was no formal announcement that the two would meet and it's unclear what was discussed. CNET has contacted Apple for more information and will update this report when we learn more.

Among the list of "… Read more

Facebook co-founder renounces U.S. citizenship ahead of IPO

Facebook co-founder Eduardo Saverin has renounced his U.S. citizenship ahead of the company's IPO, Bloomberg reported -- a move likely calculated to help him dodge capital-gains taxes.

Saverin, one of a handful of people who helped Mark Zuckerberg start Facebook at Harvard in 2004, hasn't been active at the company for many years. He still holds an estimated 4 percent of Facebook, however, a stake worth as much as $3.8 billion, Bloomberg calculated.

"Eduardo recently found it more practical to become a resident of Singapore, since he plans to live there for an indefinite period … Read more