Apple stands to be biggest beneficiary of GOP tax plan

Updated

Apple stands to be biggest beneficiary of GOP tax plan

Apple could see as much as $47 billion shaved off its US tax bill under current Republican proposals, making it the largest beneficiary of the tax plan, Fortune reports. The Senate and House still have to reconcile their different versions of the tax bill to send it to President Donald Trump for signing, but the two chambers seem mostly in agreement that the $1.3 trillion that American companies are keeping offshore should be taxed at no more than 14.5 percent — a much lower rate than the current 35 percent rate for money brought home from overseas by corporations.

Photo of author

Dan Pye

Dan Pye was a news editor at iLounge. He's been involved with technology his whole life, and started writing about it in 2009. He's written about everything from iPhone and iPad cases to Apple TV accessories.