Millions in Apple Sales Tax Revenue Go Back to Cupertino Coffers

Apple Inc.'s hometown of Cupertino, Calif., has $74.5 million more to spend on city services after releasing funds no longer needed to pay back tax revenue it received improperly from Apple’s online sales.

The City Council voted 3-2 on Tuesday evening to move the revenue out of a reserve fund where it has been held while the city negotiated a settlement with the California Department of Tax and Fee Administration. The reserved revenue went back to April 2021. Under the settlement, the city is keeping Apple sales tax revenue through August 2024, but will receive less going forward.

Council ...