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Apple Discloses $28.5B in Deferred Tax Liabilities on Overseas Profits

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  • Description

    FBN's Liz MacDonald on Apple's tax disclosures.

  • Duration 2:05
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But the senate prominent black -- of losing a once again puberty strikes the senate permanent subcommittee on investigations is wrapping up its probe into tech companies tax avoidance strategies.

But it may not like what it sees in Apple's latest government filings Elizabeth -- -- Please tell me Max -- -- Just not something stuck -- but it seems like it outlook that's going on here is that.

Yes the senate has looked into a half a dozen tech companies and their tax avoidance schemes -- -- -- -- the start about a year ago.

They subpoenaed or asked companies how you basically not -- US taxes.

And basically they need that money that congress is saying to pay down the US deficit so -- -- In a look at your Apple's filing so what we found apple -- -- interesting that disclosures -- In the finally gonna wanna hold on -- numbers is going to be hot button controversial issue moving forward.

As the debt ceiling crisis and that is apple is saying it's SEC filings.

What -- you to have billion dollars is what it was all in deferred tax liabilities on overseas profits and look at this number this is a big number.

A full 82 point six billion dollars of its cash -- That's about 70% of its cash pile sits overseeing -- so that's a lot of money out of that money is yet it its right out of the 121 billion cash toward.

-- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- Apple investors should cheer if you would want to take this cycle should cheer -- tax moves be taken -- -- my billion dollars in dividends.

Over three years using that cash pile right stuff -- -- -- watch out you -- -- -- that 83 billion figure that's going to be -- -- one they'll report yeah.

Yeah see not a news about -- that's going to be less conversation DC for a long time that we Matt thank you sure.

Fox Business -- I guess we -- first reported President Obama is expected to nominate White House.

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