Nov
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Take That Switzerland! Delaware Is Most Secretive Financial Center
As even the most non-business-minded associate knows, Delaware is the preferred state of incorporation for most any company, even those who do absolutely no business in the state, because of its friendly tax laws. Another bonus for companies incorporating in Delaware is the expert courts, which have necessarily developed due to the proliferation of corporate cases there. There are 700,000 active entities in the state, with only half of those being publicly traded in the United States, the tax group said. So, how did little Delaware dominate the Swiss as the preferred tax shelter locale? Total non-resident deposits in the U.S. rose from approximately $1 trillion in 2001 to $2.6 trillion in 2007, the group’s study found. Over the same period, the same type of deposits rose from $103 billion to $1.45 trillion in Switzerland. Delaware’s population is approximately 873,000 — 45th in the nation. via: Business Insider.
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