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Cupertino: City pays Apple $12.1 million following sales tax settlement
The city approved the transaction during their Tuesday’s meeting.
Cupertino this week greenlit a $12.1 million payment to Apple to pay back sales tax revenue the city had collected from the tech giant in the last two years. Cupertino had prepared to set aside $56.6 million from its budget to pay back the amount, leading to monetary reductions in staff, community services and city projects. A settlement reached last year with the CDTFA allowed Cupertino to keep the roughly $74.5 million in Apple sales tax revenue it had collected.
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