NY Times Apple Tax Article Flawed

bonch writes "Forbes contributer Tim Worstall points out that the NY Times article claiming Apple pays less than 10 percent of its profit in taxes was based on a flawed assumption of the corporate tax system. The 9.8% figure came from Greenlining Institute, who compared Apple's 2011 profits to taxes calculated according to 2010 profits. In the corporate tax system, estimated quarterly tax payments are made based on the previous year's profits until actual profits are calculated at the end of the trading year, when the balance is then paid to the IRS."

Oh

[Overly Critical Guy]

Whoops. Well, I'm sure Slashdot's comments to the previous article were totally reasonable.

Why does Apple hate America? (Score:5, Insightful)
by Anonymous Coward on Saturday April 28, @06:23PM (#39834399)

Good citizens pay their fair share, so it must be asked: why does Apple hate America?

...oh.

Re:Whatever Apple's paying

[HarrySquatter]

Why make them pay taxes at all? Oh and we might as well repeal all worker safety and environmental laws so that the corporations aren't inconvenienced. Don't forget to' shutdown the SEC as well because having to try to accurately report information to investors is a terrible burden.