Apple Defends Itself On Tax Allegations

Apple Inc. (NASDAQ:AAPL) has made a statement defending itself against allegations of avoiding tax in the United States. The statement comes after an article in the New York Times last Saturday which detailed the firm's tax payments in the last year. The article suggested a policy of avoiding tax at the firm using low tax states inside and outside the US to stream its revenue through in order to payer a lower effective tax rate.

Apple's response, published in the same issue of the Times, outlined the benefits the United State's economy resulting from the practices of the corporation....