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2016 Postmortem
Showing Original Post only (View all)This Delaware Address Is Home to 200,000 SHELL Companies—INCLUDING Hillary Clinton’s [View all]
The address 1209 North Orange Street in Wilmington, Del., has become known in recent years as the epicenter of U.S. corporate secrecy. The squat, split-level building is the official address of over 285,000 companies, many of which are looking to take advantage of Delawares Panama-like secrecy rules, tax incentives, and business-friendly case law.
In the wake of the recent Panama Papers scandal, this unassuming brick office has received renewed scrutiny from the Washington Post, the New York Times, the Telegraph, and advocates for corporate tax reform.
But one of its tenants may come as a surprisea company owned by Democratic presidential frontrunner Hillary Clinton.
Hillary and Bill Clinton quietly set up two shell companies listed at 1209 North Orange Street in 2008 and 2013, the Washington Free Beacon has found. The names of the companies, but not their location, were first made public in tax filings released by Hillary Clinton last year.
According to records, one of the Clintons 1209 North Orange Street companies is WJC, LLC, which was set up by Bill Clinton in 2008 as a pass-through for his consulting fees.
Another company at the same location, ZFS Holdings, LLC, was set up in February 2013, one week after Hillary Clinton left the State Department. Hillary Clinton received $5.5 million from her book publisher, Simon & Schuster, through the company.
The 1209 North Orange Street building is the headquarters for the Corporation Trust Company. The firm acts as a registered agent for thousands of corporations that are not actually located in Delaware, including the Clintons companies.
Anti-secrecy advocates say the building is prime evidence that Delaware has become a corporate haven thats comparable to more well-known, offshore locales.
If you imagined a building with 1,000 corporations in it, youd imagine a building like the Empire State building, said Richard Phillips, a senior policy analyst with Citizens for Tax Justice. But apparently 285,000 companies claim [1209 North Orange Street] is their address.
What this shows is this is not really the address of companies that are doing real business. This is the address of a lot of companies that are just shell companies, he added. In this case, it doesnt even look like they have mailboxes. They just claim that address as the places theyre doing business, even though theyre not doing business there.
Similar registered agents have come under scrutiny in recent years. While campaigning in 2008, President Obama slammed the Ugland House, a five-story building in the Cayman Islands that is reportedly home to over 18,000 companies.
Thats either the biggest building in the world, or the biggest tax scam on record, said Obama.
The Clinton campaign declined to comment on why the Clintons, who live in New York and have no evident residential ties to Delaware, set up companies in the state. But the presidential candidate isnt alone. Experts say Delaware is the most popular place to register a company in the United States, due in part to its established system of business case law and tax incentives for intellectual property and real estate holdings.
One of the biggest draws may be the states lack of disclosure requirementsbusinesses can be created completely anonymously, allowing the owners to avoid public detection and even hide income from U.S. authorities.
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This Delaware Address Is Home to 200,000 SHELL Companies—INCLUDING Hillary Clinton’s [View all]
Segami
Apr 2016
OP
It Appears Those LLCs are Simply Common Pass Through Entities Since Revenue is Recognized ....
Stallion
Apr 2016
#61
Funny... I JUst Put Up The Very Same Post/Story/Link... And It Was HIDDEN! HOW DOES THAT WORK?
CorporatistNation
Apr 2016
#2
EXACT SAME THING AND MINE WAS HIDDEN... I FIND THIS UNFAIR... DARE I SAY... UNDEMOCRATIC?
CorporatistNation
Apr 2016
#5
I Am Not Asking For Your Post To Be Hidden... I Am Asking WHY MY Exact Same Post Was Hidden?
CorporatistNation
Apr 2016
#9
Skinner has promised to remove posters from jury duty who vote in a nakedly partisan manner to hide
JimDandy
Apr 2016
#23
My Post Was Exactly The Same As THIS One! Here is The Alert W/ Link...
CorporatistNation
Apr 2016
#64
THEY Must Be Embarrassed... Now The Entire Post Is Hidden, No Comments Seen... 18 Recs!
CorporatistNation
Apr 2016
#77
Clinton's With FIVE Shell companies In Delaware To "Save" On Their Taxes!
CorporatistNation
Apr 2016
#15
As You Know Segami, I Support Most All Of Your Posts! Have Seen Reciprocal Support From You As Well
CorporatistNation
Apr 2016
#17
Did you put it in the primaries forum? I put something in the general and it was shut
Maraya1969
Apr 2016
#12
It Was In The Primaries Because HillBill Is In The Primary! Appropriate I Would Think!
CorporatistNation
Apr 2016
#16
Double srtandard, I served on a Breitbart sourced post and the opposite ocured
Dragonfli
Apr 2016
#43
Expect to see Brian 'Bot-Boy' Fallon bright n' early chirping up a defense making the media rounds
Segami
Apr 2016
#41
Gotta keep that money from filtering down to the Proles through taxes... YUP.
cherokeeprogressive
Apr 2016
#7
I'll trust the NYT over some anonymous guy on reddit, or here. Thanks. -nt-
chascarrillo
Apr 2016
#49
OK But I Just Started a Thread with Link to Clinton's Tax Returns Which Shows Revenue Received ...
Stallion
Apr 2016
#51
Even though HRC's name has been revealed, I doubt we'll hear the whole story until after election.
snowy owl
Apr 2016
#46
I Just Started a Thread to Make it Easier-They Show Revenues Received from Those LLCs
Stallion
Apr 2016
#54
Right-Since a Corp MAY Be Subject to Tax in Other States Its Authorized to Transact Business In
Stallion
Apr 2016
#55
So she and bill don't have shell companies "headquartered" in Delaware?
Bread and Circus
Apr 2016
#69