This article is more than 12 years old. See today’s top stories here.

6 Corporations That Hate The U.S. Tax System

6 Corporations That Hate The U.S. Tax System
By 

Economics writer

In this Wednesday, March 7, 2012 photo, Apple CEO Tim Cook announces the new iPad in San Francisco. Apple says Cook is giving up $75 million in dividends on restricted stock. In a filing with the Securities and Exchange Commission on Thursday, May 24, 2012, Apple Inc. says Cook requested that his restricted stock units not receive dividends. (AP Photo/Paul Sakuma)
In this Wednesday, March 7, 2012 photo, Apple CEO Tim Cook announces the new iPad in San Francisco. Apple says Cook is giving up $75 million in dividends on restricted stock. In a filing with the Securities and Exchange Commission on Thursday, May 24, 2012, Apple Inc. says Cook requested that his restricted stock units not receive dividends. (AP Photo/Paul Sakuma)

It's no secret that the U.S. tax code is complex and companies shelter billions in overseas tax havens to avoid paying out to Uncle Sam. In fact, several major companies are vocal about their lack of plans to bring overseas cash home.

Apple's CFO said last year that Apple has no plans to bring home its billions in overseas cash because of "current tax laws." But Apple is far from alone. General Electric CEO Jeff Immelt told CNN last year that the tax code is having a "hugely negative impact" on the economy.

Check out 6 big companies that hate the U.S. tax system:

Before You Go

|
Submit a tip
Close

What's Hot