‘Delaware is everywhere’: how a little-known tax haven made the rules for corporate America

And who was for several decades one of the two U.S. Senators, who represented Delaware? If you guessed the demented and senile 46th President, you are a winner!

Just a reminder: Generally speaking, there is nothing wrong with so called tax havens. Quite a few smaller countries (e.g. Luxemburg/Lichtenstein) in the world have chosen to have a low business tax environment and to be open to business. Voting with your feet to escape excessive taxation does not only apply to individuals. Tax competition is vital!

"The words “tax haven” typically invoke visions of far-off tropical hideaways like Panama, Bermuda and the Caymans. But one of the world’s biggest tax havens actually sits within the bounds of mainland USA: the tiny, tax-free state of Delaware.

Hal Weitzman, an author, business school professor at the University of Chicago Booth School and former Financial Times reporter, explores a little-known side of Delaware in his new book, “What’s the Matter with Delaware?” which sheds light on the lax corporate tax laws that have allowed the more than one million companies registered in Delaware to cloak themselves in secrecy and, in some cases, engage in illicit or dodgy financial activity. ... "

‘Delaware is everywhere’: how a little-known tax haven made the rules for corporate America - ICIJ In his new book “What’s the Matter with Delaware?” former Financial Times reporter Hal Weitzman explores the tiny state’s massive role in global financial secrecy.