Apple says it will pay a $38 billion tax bill to move foreign money back to the US

As part of an announcement today, Apple said it would pay $38 billion in taxes to bring money held overseas back to the United States.

Apple was a major winner of recent changes to the tax code, which significantly cut corporate payments. The company has about $250 billion in cash stored overseas, but under changes to tax law, companies can bring that money back to the US with lower penalties.

Apple had already stored $36.3 billion to pay the bill and move the cash. The company also said in...

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