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Although much of the revenue for these firms may be created in a country such as the UK, the intellectual property (the profitable bit) is actually based elsewhere, often the US, and the "sales" undertaken in a more favourable tax location such as Ireland, the Netherlands or Luxembourg.
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The General Assembly passed property tax reform legislation in 2008, capping property taxes at one percent, making Indiana one of the lowest property tax locations in the nation.
Second, other countries like the United Kingdom become attractive foreign tax locations because they operate under a territorial system that does not tax profits earned outside of the home country.
Buying a foreign competitor in a lower-tax location and shifting headquarters to that company's home country is known as a tax inversion.
And while it'll probably end up stashed in a huge warehouse in a strategic low-tax location somewhere, there are those who hope the anonymous buyer represents a museum and that Salvator Mundi will be the next Mona Lisa.
"Tax rulings, where they are used to offer selective tax advantages or to artificially shift profits to low or no-tax locations, distort competition and erode Member States' tax bases".
And will economic growth in the low-tax locations out pace the effects of their decaying schools and infrastructure?
While one Treasury official recently conceded that the days of multinationals being able to shift all profits to zero-tax locations are over, the United States is hardly an enthusiastic supporter of a major BEPS initiative.
One grant went to Doorways to Dreams, based in Roxbury, Mass., to develop a demonstration program at several dozen tax preparation locations to encourage low-income and middle-income workers to invest part of their tax refunds in savings bonds.
My request for more specific details on whether those "other options" included more tax friendly locations outside San Francisco have as of yet gone unanswered.
In other words, according to the IRS, the payment within corporations is treated as a kind of internal transfer, which Apple funneled to its tax-friendliest locations.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com