Foreign profits held overseas by U.S. corporations to avoid taxes at home nearly doubled from 2008 to 2013 to top $2.1 trillion, said a private research firm's report, prompting a call for reform by the Senate's top tax law writer...
Under U.S. law, corporations do not have to pay income tax on most of their overseas profits until they are brought into the United States. These earnings can be held offshore for years if they are classified as indefinitely invested abroad.
Microsoft, according to this study, is holding $76.4 billion offshore, behind only General Electric ($110 billion offshore).
The company also has a long history of dodging Washington State taxes, as well as a long history of encouraging the perpetually broke Washington State Legislature to do more to improve public education in this state. (So that Microsoft can have more Washington-educated people to hire, so that those workers can help create more profits for Microsoft, profits that... will quickly and creatively be stashed out of reach of state and federal tax collectors?)
