Lower tax rate than any oil company or mitt romney for that matter. But hey liberals love apple's products so it's no skin of their back. Report: Apple legally sidesteps billions in taxes Apple has legally allocated about 70 percent of its profits overseas, where tax rates are often much lower than in the U.S., according to company filings. The Times cites a study by former Treasury Department economist Martin A. Sullivan that estimates Apple's federal tax bill would have been $2.4 billion higher last year without such tactics. The newspaper says Apple paid $3.3 billion in cash taxes globally on $34.2 billion in profits last year. That's a tax rate of 9.8 percent.