nowhere so they don't exist anywhere but they must operate from somewhere or do something somewhere right here is the state. which is the apple operations enter national it's only owned by apple but it was incorporated in ireland now ireland has their tax laws are if a company is not managed and controlled in a higher line than is not considered a tax resident how does one have to pay taxes but here is where the loophole comes in and the us if a company is based a company's tax is based on where it's incorporated now where it's controlled so why is man is it controlled in the united states but it was incorporated in ireland so as it goes companies that has no physical presence or of. its finances are handled in nevada which is a state with no income tax by braeburn capital and its bank account is located in new york all right so we have nevada new york ireland reminds us of the. crisis in two thousand and eight where you had these luxembourg based icelandic bankers making swiss franc...