Corporation Trust Center

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Corporation Trust Center ( CT Corporation ), Wilmington, Delaware

The Corporation Trust Center is a single story home located at 1209 North Orange Street in Wilmington , Delaware , USA . In 2012, as a result of the Delaware Effect, the house acted as the "seat" of over 285,000 companies, including a large number of the corporations traded on the US stock exchanges that operate mailbox companies here .

CT Corporation

The building is operated by CT Corporation (CT Corp). It represents its clients through so-called Registered Agents and is one of the largest providers of such onshore and offshore company services in the USA. CT Corporation itself has its headquarters in New York City and is a subsidiary of the Dutch Wolters Kluwer Group .

Economical meaning

The companies operating in the Corporation Trust Center include Allianz SE , Adidas , American Airlines , Apple , Coca-Cola , General Motors , Google , Kentucky Fried Chicken , Lufthansa , Daimler AG , Verizon and Volkswagen . Volkswagen has more than ten subsidiaries registered here. The German bank maintains about 430 of its more than 2,000 here SPEs .

The mailbox companies represented by CT Corp in their Corporation Trust Center represent nearly a third of all Delaware corporations. Overall, more than half of the world's large companies are said to have branches in Delaware . For many of these companies, the state is a tax haven . Although taxes apply here, many types of financial income, especially royalties , are tax-exempt in Delaware (but also in Nevada , Wyoming and Oregon ). This leads to the generation of such operating expenses, which are tax-reducing in the countries of origin, of the parent companies in favor of their branches established in Delaware.

Because of their large number alone, Delaware still took approximately $ 860 million in taxes from the state-based mailbox companies in 2011, which was a quarter of its total budget . The associated loss of tax revenue from the other US states alone - and correspondingly the tax savings of the companies involved - is said to be more than ten times as much and is estimated at $ 9.5 billion.

See also

Web links

Individual evidence

  1. ^ A b c d Leslie Wayne: How Delaware Thrives as a Corporate Tax Haven , New York Times, June 30, 2012
  2. ↑ Claus Hulverscheidt: Why wander into the distance? , Süddeutsche Zeitung, April 8, 2016
  3. ^ A b Andrew Clark: Welcome to tax-dodge city, USA. In: The Guardian . April 10, 2009, accessed January 6, 2014 .
  4. ↑ a b Video Escape to the Caribbean - Corporate Tax Tricks, ZDFzoom, March 6, 2013  in the ZDFmediathek , accessed on April 20, 2016. ( Documentation available online on YouTube , here from minute 21)
  5. ^ The opinion of Mossack Fonseca . On panamapapers.sueddeutsche.de (accessed April 9, 2016)
  6. ↑ Julia Glum: Why Aren't They More Americans In The Panama Papers? Secrecy, Tax Laws In Nevada, Other States Provide Havens , International Business Times, April 5, 2016
  7. ^ Organization - Governance, Risk & Compliance . On wolterskluwer.com (accessed April 9, 2016)
  8. ↑ Michael Houben: Review: Banks - In the Shadow of Controls ( Memento from August 18, 2012 in the Internet Archive )
  9. ↑ Lynnley Browning: Critics Call Delaware a Tax Haven. In: New York Times . May 29, 2009, accessed January 6, 2014 .

Coordinates: 39 ° 44'54.4 "  N , 75 ° 32'51.7"  W.