First, some background, which I learned about from the Capital Times' Mike Ivey.
Kiplinger recently selected Delaware as one of its "most tax-friendly" states.
A couple of reasons why,
- It has no state or local sales tax.
- Property taxes on a median-price home of $249,400 is $1,078. (Our home has a similar value; our taxes are almost four times what someone in Delaware pays.)
Then I stumbled across this op-ed piece today.
Excerpt: While officials in Delaware, Wyoming and Nevada talk about their corporate “traditions,” I am unimpressed. Business incorporation fees have accounted for as much as a quarter of Delaware’s general revenues. It’s no surprise that officials in Dover and Wilmington want to protect their state’s status as a corporate registry, but if that means facilitating criminal activity, their stance is a form of willful blindness. America must require uniform corporate-registration practices if it is to persuade other nations to cooperate in the fight against financial crimes.
But Nevada wants your business more.