Forbes: Which U.S. Companies Have the Most Tax Havens

Every year, U.S.-based multinational corporations use tax havens to avoid paying an estimated $100 billion in federal income tax. According to a report from the Institute on Taxation and Economic Policy, 366 of the country’s 500 largest companies maintain at least 9,755 tax haven subsidiaries where they hold over $2.6 trillion in accumulated profits. Apple is at the very top of the offshore cash pile, booking $246 billion and avoiding $76.7 billion in U.S. taxes in the process. Interestingly, Apple only has three tax haven subsidiaries which are all based in Ireland, according to the report, far fewer than other U.S. based multinationals. Read more