Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
2016 Postmortem
In reply to the discussion: The Clintons are using 5 shell companies to save on taxes in Delaware [View all]RiverLover
(7,830 posts)88. Tax haven? Exactly.(duh) New York Times 2012 talks about this exact address used as tax haven.
How Delaware Thrives as a Corporate Tax Haven
By LESLIE WAYNEJUNE 30, 2012
NOTHING about 1209 North Orange Street hints at the secrets inside. Its a humdrum office building, a low-slung affair with a faded awning and a view of a parking garage. Hardly worth a second glance. If a first one.
But behind its doors is one of the most remarkable corporate collections in the world: 1209 North Orange, you see, is the legal address of no fewer than 285,000 separate businesses.
Its occupants, on paper, include giants like American Airlines, Apple, Bank of America, Berkshire Hathaway, Cargill, Coca-Cola, Ford, General Electric, Google, JPMorgan Chase, and Wal-Mart. These companies do business across the nation and around the world. Here at 1209 North Orange, they simply have a dropbox.
What attracts these marquee names to 1209 North Orange and to other Delaware addresses also attracts less-upstanding corporate citizens. For instance, 1209 North Orange was, until recently, a business address of Timothy S. Durham, known as the Midwest Madoff. On June 20, Mr. Durham was found guilty of bilking 5,000 mostly middle-class and elderly investors out of $207 million. It was also an address of Stanko Subotic, a Serbian businessman and convicted smuggler just one of many Eastern Europeans drawn to the state.
Big corporations, small-time businesses, rogues, scoundrels and worse all have turned up at Delaware addresses in hopes of minimizing taxes, skirting regulations, plying friendly courts or, when needed, covering their tracks....
http://www.nytimes.com/2012/07/01/business/how-delaware-thrives-as-a-corporate-tax-haven.html?_r=0
By LESLIE WAYNEJUNE 30, 2012
NOTHING about 1209 North Orange Street hints at the secrets inside. Its a humdrum office building, a low-slung affair with a faded awning and a view of a parking garage. Hardly worth a second glance. If a first one.
But behind its doors is one of the most remarkable corporate collections in the world: 1209 North Orange, you see, is the legal address of no fewer than 285,000 separate businesses.
Its occupants, on paper, include giants like American Airlines, Apple, Bank of America, Berkshire Hathaway, Cargill, Coca-Cola, Ford, General Electric, Google, JPMorgan Chase, and Wal-Mart. These companies do business across the nation and around the world. Here at 1209 North Orange, they simply have a dropbox.
What attracts these marquee names to 1209 North Orange and to other Delaware addresses also attracts less-upstanding corporate citizens. For instance, 1209 North Orange was, until recently, a business address of Timothy S. Durham, known as the Midwest Madoff. On June 20, Mr. Durham was found guilty of bilking 5,000 mostly middle-class and elderly investors out of $207 million. It was also an address of Stanko Subotic, a Serbian businessman and convicted smuggler just one of many Eastern Europeans drawn to the state.
Big corporations, small-time businesses, rogues, scoundrels and worse all have turned up at Delaware addresses in hopes of minimizing taxes, skirting regulations, plying friendly courts or, when needed, covering their tracks....
http://www.nytimes.com/2012/07/01/business/how-delaware-thrives-as-a-corporate-tax-haven.html?_r=0
"rogues, scoundrels and worse"....yep.
The Clintons are playing the con of the century, Democrats In Name Only.
But you knew that.
Edit history
Please sign in to view edit histories.
131 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
RecommendedHighlight replies with 5 or more recommendations
Earnst & Young helps Disney & Koch Ind. ship money to Luxembourg in a 5-hop process, LT 1% Tax.
TheBlackAdder
Apr 2016
#55
Clinton supporters...? crickets chirping... Surely you have something to say.
snowy owl
Apr 2016
#10
Tax haven? Exactly.(duh) New York Times 2012 talks about this exact address used as tax haven.
RiverLover
Apr 2016
#88
"Clinton criticized the "super-rich" who use "outrageous tax havens and loopholes"
jmg257
Apr 2016
#17
Why incorporate in Delaware? It is not for tax avoidance. Your OP is not accurate. it's BS innuendo
upaloopa
Apr 2016
#36
Registered Agents and Registered Addresses Are Public Information in the Secretary of State Offices
Stallion
Apr 2016
#43
Every Attorney in the Country Would Agree With This-Its Humorous this is Causing Such a Hubub
Stallion
Apr 2016
#47
CT Corp is a Commercial Registered Agent Serving Corporations in Every State in the Country
Stallion
Apr 2016
#39
Well, yeah, that's how they got the information about the tax-dodging shell companies.
RiverLover
Apr 2016
#63
"There is nothing illegal about the Clintons' decision to take advantage of Delaware's tax laws."
DanTex
Apr 2016
#61
Opening a Delaware LLC is not one of them. It's extremely common, it's not some exotic tax
DanTex
Apr 2016
#68
See post #13. Its the height of hypocrisy. Is she going to fight against herself?
RiverLover
Apr 2016
#69
Golly, then why didn't they just set up these LLCs in New York or Arkansas?
progressoid
Apr 2016
#96
Yep. They set it up to evade taxes, the very thing she claims to be running AGAINST.
RiverLover
Apr 2016
#97
A lot of people incorporate in Delaware. It's not some big secret. You can do it too if you want.
DanTex
Apr 2016
#104
How about 401Ks, are you opposed to them too? After all, that's another way that people
DanTex
Apr 2016
#113
Its robbing US of resources. Tax evading made legal is still tax evading. Its very republican too.
RiverLover
Apr 2016
#79
Yes, let's "make sure that everyone pays their fair share here in America" nt
kristopher
Apr 2016
#83
Nothing close to shell companies. Especially when doing business with Phil Gramm.
Octafish
Apr 2016
#90
I work in a Government office in Utah. Almost 10% of all start ups HERE are either NV or DE....
Sheepshank
Apr 2016
#91
This article describes how Corp Dems & repubs allowed US to become a World Leader in Tax Avoidance
RiverLover
Apr 2016
#95
Exactly....& its Money in Politics. Like almost every issue out there, the root of the problem.
RiverLover
Apr 2016
#125
The perception of wrongdoing is often as damaging is the reality of wrongdoing. Drip, drip, drip.
Tierra_y_Libertad
Apr 2016
#109
It's hilarious that so many here haven't bothered to read the thread before posting.
randome
Apr 2016
#126
They set up a corporation as book authors in a diff state to avoid paying taxes . A TAX CHEAT
RiverLover
Apr 2016
#128