“Apple just announced on Wednesday it will bring back hundreds of billions of dollars from overseas to fund investment in the U.S.,” Tae Kim reports for CNBC. “‘Apple, already the largest US taxpayer, anticipates repatriation tax payments of approximately $38 billion as required by recent changes to the tax law. A payment of that size would likely be the largest of its kind ever made,’ the company said in the release.”

“Using the new 15.5 percent repatriation tax rate, the $38 billion tax payment disclosed by Apple means they are planning a $245 billion repatriation,” Kim reports. “The tax overhaul, which President Donald Trump signed into law last month, also lowered the corporate tax rate to 21 percent from 35 percent.”

“After the repatriation tax payment, the company will have $207 billion left over from the move it can use for investments, acquisitions, stock buybacks or larger dividends. Apple said it plans more than $30 billion in capital expenditures in the U.S. during the next five years,” Kim reports. “Apple had $252.3 billion in overseas cash as of the end of September quarter, according to SEC filings, so that means the company is bringing back nearly all of its foreign cash.”

Read more in the full article here.

MacDailyNews Take: Do not overlook Apple’s quintupling of their Advanced Manufacturing Fund from $1 billion to $5 billion, either!

Apple’s Advanced Manufacturing Fund supports innovation among American manufacturers and helps others establish a presence in the US. It is already backing projects with leading manufacturers in Kentucky (Corning, $200 million) and Texas (Finisar, $390 million).

SEE ALSO:
Apple plans to add $350 billion to U.S. economy and create over 20,000 new jobs over next 5 years, pay $38 billion in repatriated taxes, the largest ever made – January 17, 2018
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Apple expected to issue less debt in 2018 now that President Trump has signed the Tax Cuts and Jobs Act – January 16, 2018
U.S Treasury: 90% of U.S. workers likely to see more money in take-home pay next month – January 13, 2018
U.S. sees strongest holiday sales since 2010 – January 12, 2018
Dow, S&P 500 and Nasdaq rocket to new all-time records – January 11, 2018
S&P 500 and Nasdaq rise to records on first trading day of 2018 – January 2, 2018
Apple makes Trump-friendly investment in Finisar – December 13, 2017
Apple is backing up iPhone X’s Face ID and AirPods with American jobs – December 13, 2017
How Apple and Finisar are transforming the future of Sherman, Texas – December 13, 2017
Apple awards $390 million to VCSEL-maker Finisar; award will create 500 high-skill jobs at Sherman, Texas facility – December 13, 2017
U.S. employment jumps more than expected in November, boosts U.S. stocks – December 8, 2017
U.S. third-quarter GDP revised to three-year high of 3.3% – November 29, 2017
Goldman Sachs sees U.S. unemployment rate hitting lowest level since the late-1960s – November 20, 2017
American consumer confidence soars to highest level since December 2000 – October 31, 2017
U.S. jobless claims plunge to lowest level since 1973 – October 19, 2017
U.S. economy picks up steam; second-quarter GDP up 3.0% reflecting robust consumer spending and strong business investment – August 30, 2017
U.S. consumer confidence shows Americans upbeat on jobs, economy – July 25, 2017
Corning shares boosted by Apple’s $200 million investment – May 15, 2017
Apple’s billion-dollar advanced manufacturing investment is a blueprint for U.S. job growth – May 4, 2017
Apple to invest $1 billion to promote manufacturing jobs in the U.S. – May 4, 2017
Apple’s top manufacturing partner to meet with U.S. President Trump today – April 27, 2017