Panama Papers in Delaware

Hillary Clinton and Donald Trump [...] share an affinity for the same nondescript two-storey office building in Wilmington [Delaware]. A building that has become famous for helping tens of thousands of companies avoid hundreds of millions of dollars in tax through the so-called “Delaware loophole”.

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TBoth the leading candidates for president – Hillary Clinton and Donald Trump – have companies registered at 1209 North Orange, and have refused to explain why.

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his squat, yellow brick office building just north of Wilmington’s rundown downtown is the registered address of more than 285,000 companies

  Guarian

It's a yuuuuuuuuuuuuuuge building.

That’s more than any other known address in the world, and 15 times more than the 18,000 registered in Ugland House, a five-storey building in the Cayman Islands that Barack Obama called “either the biggest building in the world, or the biggest tax scam on record”.

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There are more than 1m companies registered in the state – more than Delaware’s population of 935,000.

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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.

Talk about your tax scams.

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”.

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Clinton, who has repeatedly promised that as president she will crack down on “outrageous tax havens and loopholes that super-rich people across the world are exploiting in Panama and elsewhere”, collected more than $16m in public speaking fees and book royalties in 2014 through the doors of 1209, according to the Clintons’ tax return.

Just eight days after stepping down as secretary of state in February 2013, Clinton registered ZFS Holdings LLC at CTC’s offices. Bill Clinton set up WJC LLC, a vehicle to collect his consultation fees, at the same address in 2008.

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Of the 515 companies on Trump’s official Federal Election Commission (FEC) filing, 378 are registered in Delaware.

...but hey, do what you want...you will anyway.