Apple’s profits more than quintupled in the last five years, but their tax burden has risen much more slowly.  Last year, just 9.8% of their profits went to taxes.   “By comparison,” writes economist Marty Hart-Landsberg, “Wal-Mart was downright patriotic — paying a tax rate of 24 percent.”

How does the company do it?  Hart-Landsberg summarizes the New York Times: “The answer is tax loopholes and a number of subsidiaries in low tax places like Ireland, the Netherlands, Luxembourg and the British Virgin Islands. ”  More details at Reports from the Economic Front.

Lisa Wade, PhD is an Associate Professor at Tulane University. She is the author of American Hookup, a book about college sexual culture; a textbook about gender; and a forthcoming introductory text: Terrible Magnificent Sociology. You can follow her on Twitter and Instagram.