⏱Would you live in Facebook county?
The Apple Car, and a Super Bowl LV
Good morning everyone and happy Saturday! We hope you have a fun weekend planned.
A bill in Nevada yesterday by Democratic Governor, Steve Sisolak, introduced the idea of “Innovation Zones” within the state that would allow technology companies to form local governments. Yes, you read that correctly. Nevada plans on enticing tech companies to join the state by allowing them to form a local government with all of the same abilities as a county if they own a large enough area of land (78 square miles). That would allow them to levy taxes, form school districts, and provide government services. Only time will tell if the bill will pass, but several tech companies have already committed to moving if it’s passed.
After several years of either reporting negative (2017 and 2018) or miniscule (1.2% in 2019) tax rates, Amazon announced that they had over $1.835 billion in tax liability on $20.2 billion worth of income for 2020. That rate (9%) is still far under the US corporate rate of 21%, because Amazon received tax credits for research, renewable energy, and other various programs. This may be a new trend however, because in their earnings guidance earlier this week, they suggested another increase in 2021 due to fears that President Biden will raise the overall corporate tax rate to 28% with a floor of 15%.
Rumors of an Apple car have been swirling around since a report late last year, but it appears that it’s getting much closer now. Reportedly Kia is asking suppliers to begin the process to expand their electric car factory in Georgia with a multibillion dollar investment. Nothing is finalized yet, but these talks align with Apple’s rumored meetings with Hyuandai, Kia’s parent company, earlier this year.
Tomorrow at 6:30 pm EST, the Kansas City Chiefs (-3.5) and Tampa Bay Buccaneers will face off in Super Bowl LV to fight for a title in a season like no other. No worries if you’re not a football fan though — advertisers are still coming out in force despite the $5.5M price tag associated with a 30 second spot this year. Check out the pre-released ads in the link above!
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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