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Title: Clinton, Trump & Corporation Trust Center
Source:
Left Hook
URL Source: https://hendersonlefthook.wordpress ... rump-corporation-trust-center/
Published: Apr 28, 2016
Author: Dean Henderson
Post Date: 2016-04-29 22:11:53 by Deckard
Keywords: None
Views: 538
Comments: 7
You know things are bad when the leading contenders for President in both political parties use the same phony Delaware address as Walmart, Coca Cola, American Airlines & Apple to avoid paying taxes.
Both Hillary Clinton and Donald Trump own companies registered at 1209 North Orange Street, Wilmington, DE in a two-story building known aptly as the Corporation Trust Center. More than 285,000 companies use this very same address to avoid taxes, making it the most densely populated mailing address on earth.
Clinton launched her firm in 2013, shortly after stepping down as Secretary of State. Through ZFS Holdings LLC she collected more than $16 million in speaking fees and book royalties in 2014. Bill Clinton set up WJC LLC in 2008 at the same address to gain tax advantages on his consulting fees.
Of the 515 companies Donald Trump owns and has listed on his official Federal Election Commission filing, 378 are registered in tax haven Delaware. Several of these companies share the Orange Street office with the Clinton fronts, including Trump International Management Corp. and Hudson Waterfront Associates.
A report by the Institute on Taxation & Economic Policy titled, Delaware: An Onshore Tax Haven, states that Delaware’s sleazy tax code has made it, “a magnet for people looking to create anonymous shell companies, which individuals and corporations can use to evade an inestimable amount in federal and foreign taxes”.
Can anyone with a conscience vote for either of these scumbags?
(Research for this article provided by Darrell Geist)
Dean Henderson is the author of five books:Big Oil & Their Bankers in the Persian Gulf: Four Horsemen, Eight Families & Their Global Intelligence, Narcotics & Terror Network, The Grateful Unrich: Revolution in 50 Countries, Das Kartell der Federal Reserve,Stickin’ it to the Matrix & The Federal Reserve Cartel. You can subscribe free to his weekly Left Hookcolumn @www.hendersonlefthook.wordpress.com
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Can anyone with a conscience vote for either of these scumbags?
I don't see what legally registering in Delaware has to do with anything that would trigger "conscience".
There is nothing wrong with registering your company in Delaware.
#2. To: Vicomte13, Deckard, nolu chan (#1) (Edited)
[The Author] You know things are bad when the leading contenders for President in both political parties use the same phony Delaware address as Walmart, Coca Cola, American Airlines & Apple to avoid paying taxes.Can anyone with a conscience vote for either of these scumbags?
[Viscomte13] I don't see what legally registering in Delaware has to do with anything that would trigger "conscience".
There is nothing wrong with registering your company in Delaware.
Anonymous quote: “The best way to lie is to tell the truth….carefully edited truth.”
Companies and individuals do not avoid paying taxes when they incorporate in the state of Delaware. They are subject to ongoing reporting requirements, fees and taxes in the state of Delaware.Companies and individuals that incorporate in Delaware and do business in another state, must register to do business in the other state.
Companies and individual do not avoid paying taxes when they incorporate in Delaware and do business in another state. They are subject to ongoing reporting requirements,fees and taxes in BOTH Delaware AND the state they do business in.
Since there are additional costs—including initial and ongoing fees from both Delaware and state registered to do business in—you may wonder if the process is really necessary because state laws require corporations and LLCs doing business within their borders to register, and the consequences of not doing so outweigh the costs:
You may lose access to that state’s court system. For example, if an employee or customer within a state in which you do business sues your company, you can’t defend the lawsuit in that state, because your company is not recognized as a business there.You may face fines, penalties and back taxes for the time in which your company did business within a state without being registered there.
Anonymous quote: “The best way to NOT lie is to tell the truth….the whole truth and nothing but the whole truth.”
Gawd, I hate yellow journalism ...
#3. To: Deckard (#0)
Furthermore:
Incorporating in Delaware is NOT about avoiding taxes in either Delaware or the state(s) you do business in because you will pay taxes in all states. It is because of the complexity and difficulty to incorporate in most states if your are planning to work with an investment bank or venture capital fund, you likely have no choice but to become a Delaware entity and thus incorporate in Delaware. Because of the nature of his business, Trump does most, if not all, of his financial dealings with investments banks and venture capital funds. Consequently, it is wise for him to incorporate in Delaware for ease of operation and tax avoidance is not a consideration. You cannot avoid paying taxes by incorporating in Delaware.
Top 5 Reasons to Incorporate in Delaware:
1. Flexible Laws. Delaware’s General Corporation Law is the most advanced and flexible business formation statute in the United States. It is designed to provide maximum flexibility in the structuring of business entities and the allocation of rights and duties among founders and shareholders.
2. No Wildcard Juries. If you do end up going to court to settle a dispute, Delaware’s Court of Chancery uses judges instead of juries. I don’t know about you, but I’d rather place my startup company’s legal fate in the hands of a well-trained expert than people whose legal experience consists of The People’s Court and Law and Order re-runs.
3. Precedence = Less Litigation. Since judges are used, decisions are issued as written opinions that your startup company can rely on. Thus, most Delaware corporations do not end up litigating disputes because their professional advisers examine these published opinions and construct deals to avoid lawsuits.
4. It’s Free! (Well, almost). Delaware charges $89 to incorporate. A little bit cheaper than California ($100..but they nail you for $800 every year in franchise fees), New York ($125), and a lot cheaper than Texas ($300). [note: Even if you incorporate in a foreign state like Delaware, your startup company may still be subject to registration as a “foreign entity” and compliance with the laws of states you transact business in.]
5. Privacy. In a world where personal privacy is constantly eroding (the Google 3D Mapping truck should be driving by my house any day now), Delaware does not require director or officer names to be listed in the formation documents. Thus, Delaware provides a level of anonymity from snoopers.
Tax avoidance is not a reason to incorporate in Delaware.
Gawd, I hate yellow journalism …
#4. To: Gatlin (#3) (Edited)
Tax avoidance is not a reason to incorporate in Delaware.
Delaware: An Onshore Tax Haven
When thinking of tax havens, one generally pictures notorious zero-tax Caribbean islands like the Cayman Islands and Bermuda. However, we can also find a tax haven a lot closer to home in the state of Delaware – a choice location for U.S. business formation.
A loophole in Delaware’s tax code is responsible for the loss of billions of dollars in revenue in other U.S. states, and its lack of incorporation transparency makes it a magnet for people looking to create anonymous shell companies, which individuals and corporations can use to evade an inestimable amount in federal and foreign taxes.
The Internal Revenue Service estimated a total tax gap of about $450 billion with $376 billion of it due to filers underreporting income in 2006 (the most recent tax year for which this data is available).
While it is impossible to know how much underreported income is hidden in Delaware shell companies, the First State’s ability to attract the formation of anonymous companies suggests that it could rival the amount of income hidden in more well-known offshore tax havens.
Source : Institute on Tax and Economic Policy (ITEP).
Trump and Clinton share Delaware tax 'loophole' address with 285,000 firms
Officially, 1209 North Orange is home to Apple, American Airlines, Coca-Cola, Walmart and dozens of other companies in the Fortune 500 list of America’s biggest companies. Being registered in Delaware lets companies take advantage of strict corporate secrecy rules, business-friendly courts and the “Delaware loophole”, which can allow companies to legally shift earnings from other states to Delaware, where they are not taxed on non-physical incomes generated outside of the state.
The loophole is said to have cost other states more than $9bn in lost taxes over the past decade and led to Delaware to be described as “one of the world’s biggest havens for tax avoidance and evasion”.
But it’s not just big corporations that have chosen to make 1209 North Orange their official home.
Both the leading candidates for president – Hillary Clinton and Donald Trump – have companies registered at 1209 North Orange, and have refused to explain why.
Source : The Guardian.
“Truth is treason in the empire of lies.” - Ron Paul
In a Cop Culture, the Bill of Rights Doesn’t Amount to Much
Americans who have no experience with, or knowledge of, tyranny believe that only terrorists will experience the unchecked power of the state. They will believe this until it happens to them, or their children, or their friends.
Paul Craig Roberts#5. To: Deckard (#4) (Edited)
NOTE: I tried to edit earlier and I could not because of a “Server Error.” See, it is not only I that is getting sick of your ignorant statements … you have caused the server to puke all over itself. Shame on you … clean up you act.
I can now proceed …
From the article: While it is impossible to know (if any) income is hidden …
The shithead doesn’t know if ANY income is hidden but speculates that it is. He misleads with an assumptive declaration.
Fuck SPECULATION ... not knowing but speculating is a show of complete ignorance.
Go post an article about hygiene, that will be more informative and pertinent to the point at hand than what you are posting and advocating.
You need to get specific. You can do so by showing me where and how Trump incorporated any one of his business ventures in Delaware and then conducted all aspects of the business operation in New York ... and avoided paying taxes in New York because the business was a Delaware corporation. Now do the same with the federal taxes. Then I will not call you a stupid ignorant asshole ... well, not as often.
#6. To: Gatlin (#5)
You need to calm down princess.
You posted your "Top 5 Reasons to Incorporate in Delaware" propaganda from a site called - what was it again - oh, right, "startuplawyer.com"?
Yeah, a real wealth of information there.
Sorry you don't like it when someone points out that Trump and Hillary are just two sides of the same corrupt coin.
“Truth is treason in the empire of lies.” - Ron Paul
In a Cop Culture, the Bill of Rights Doesn’t Amount to Much
Americans who have no experience with, or knowledge of, tyranny believe that only terrorists will experience the unchecked power of the state. They will believe this until it happens to them, or their children, or their friends.
Paul Craig Roberts#7. To: Deckard (#6)
You posted your "Top 5 Reasons to Incorporate in Delaware" propaganda from a site called - what was it again - oh, right, "startuplawyer.com"?
Those are valid and time proven reasons, from personal experience and association in business with the experience of others.
Yours was PURE speculation. If there were no speculation and proof, then the feds would be after their taxes.
Of course you are not expected to see the difference.
You don't like it when someone points out when I point out that you continue to be completely dictated by emotion and ignorance rather than reason and facts.
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