It took this many years for an article to be interesting enough to HN to be submitted...
Apple isn't the only company with this kind of deal, and California has been looking into them for years. For example, Williams-Sonoma is appealing a ruling against their deal with Shafter, also covered in Bloomberg Tax two years ago:
https://news.bloombergtax.com/daily-tax-report-state/william...
This is the most probable scenario
Imagine as a non-billionaire/famous asking for such terms at purchase.
Ffs I was paying cash for a new car and they said they wanted to run my credit.. I said FU and had to threaten to leave if they wanted the sale, why run credit on a cash purchase?
But I don't expect that most dealers will give you a jobs-like deal? Or is this normal?
It took this many years for CDTFA audit to be started, completed, and the city to be told it needs to end the program, which is what the article is ultimately about.
Given the total amount identified and the per-year current amount, the amount seems likely to have been small potatoes for most of the life of the program. In 1998, a lot more of the business was brick and mortar, and it was before even the iPod, much less the iPhone, was introduced.
Saratoga native... everyone knew this, that guy Jobs would buy a new car every six months just to avoid a DMV visit..
You think that master of the masters of the con cant play a lowly municipality built on orchards into a tax haven?