Why Does Apple Owe Maine $500,000?
If you're an "Apple Person", meaning you love iPhones, iPads, and Macs, take a deep breath... Sadly, Apple doesn't owe YOU money. Instead, the tech giant owes the State of Maine a pile of cash.
According to News Center Maine, Maine's State Supreme Judicial Court has decided that Apple should have paid the full amount of tax on iPhones that were sold at discounted rates through cellphone provider stores.
An investigation into the matter determined that Apple owed more than $430,000 in taxes on the phones that were sold between May of 2010 and April of 2013. Additionally, they were ordered to pay more than $100,000 in fines. From May of 2010 to April of 2013, Apple sold their phones at a discount if the consumer signed a long-term contract with Verizon Wireless, AT&T Mobility, or Sprint. The taxes were then applied based on the discounted price, instead of the full retail price.
The State of Maine argued that the iPhones should have been taxed at the full cost because Apple had agreements to recoup some of their loss (the price difference) from the wireless companies.
A judge had previously sided with Apple on the matter. Maine is not the only state where the tax question has come up.
CHECK IT OUT: See the 100 most popular brands in America
9 Changes Likely To Stick Around Maine Post Pandemic
Have you downloaded our FREE app? You can use it to stream the station, to message the DJs, and to get breaking local news sent right to your phone. You can also use it to take part in exclusive contests. Get the app by entering your phone number in the box below. We'll text you the download link.