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by dragonwriter
1156 days ago
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> Did the article mean to say that Apple has contributed $107m per year since 1998 No, Apple has received $107 million rebated from Cupertino since 1998. Cupertino has retained (since the rebate is 35% of the total, so the total is 65/35 of the rebate) $198 million since 1998, and initially received $305 million. But while that is probably increasing over time, not sure where the 73% comes from, as that’s ~$94 million/year. Hmm… More research: It’s 73% of sales tax revenue, not total city revenue. Cupertino currently gets $42.1 million per year in sales tax revenue, the deal going away is expected to drop it to $11.4 million per year. (And there are expected to be fines and returns of past funds, on top of that.) https://appleinsider.com/articles/23/04/13/california-wants-... |
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