Apple Could Get a $4 Billion Boost From Tax-Law Quirk

Microsoft, Cisco might also benefit from GOP bill ‘loophole’
Law gives some firms edge in paring offshore cash tax tab

Bloomberg’s Alexis Leondis reports on how tech giants like Apple could benefit from the new tax law.(Source: Bloomberg)

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By Lynnley Browning

January 11, 2018 at 9:00 AM UTC

This article is for subscribers only.

Companies that stockpiled trillions of dollars offshore free of U.S. income tax may get one last break before paying up -- provided their fiscal years don’t follow the calendar year.

A timing quirk in the tax overhaul that President Donald Trump signed last month may be good news for companies such as Apple Inc., Microsoft Corp. and Cisco Systems Inc., all of which began their fiscal years before Jan. 1. Firms including Alphabet Inc., Amgen Inc. and General Electric Co. -- with fiscal years that began on Jan. 1 -- appear to be shut out of the benefit.