Help Me Find This Article Comparing Incorporating In Different Places
April 25, 2013 7:54 AM
Within the last year or two I'd read an article on Slate or Salon or some similar web site where the authors set up their own corporations (possibly LLCs) in a few different jurisdictions and compared the ease, speed, cost, etc. Now I want to find the article again and my Google-fu is failing me.
I think it was written in a sort of humorous vein around the time that Citizens United was getting a lot of attention, or it may have been around when people were talking about Romney's offshore investments. Anyhow, the authors set up something like three or four different LLCs or shell corporations in Delaware and a couple other places -- maybe another state, I think at least one offshore -- and they had silly names. This wasn't done for actually having the companies, but just to illustrate how easily it can be done. It was both witty and informative.
I'd really like to read it again, but I just can't find it. Can anyone help?
I think it was written in a sort of humorous vein around the time that Citizens United was getting a lot of attention, or it may have been around when people were talking about Romney's offshore investments. Anyhow, the authors set up something like three or four different LLCs or shell corporations in Delaware and a couple other places -- maybe another state, I think at least one offshore -- and they had silly names. This wasn't done for actually having the companies, but just to illustrate how easily it can be done. It was both witty and informative.
I'd really like to read it again, but I just can't find it. Can anyone help?
Keep in mind if payoto is correct, planet money did a series of 2 or 3 follow-up shows on the tax implications of their new companies, liabilities to themselves as owners, and an attempt to have a board meeting to meet their fake director. All well worth listening to!!
posted by slateyness at 8:09 AM on April 25, 2013
posted by slateyness at 8:09 AM on April 25, 2013
That wasn't it, but thanks for the link. I had not tried "Belize" in my search terms, although I did try "Cayman" and "Panama." So this might help.
Also, I'm think one of the companies in the article was a shelf corporation (not shell, as I'd initially said in my question. That is, it was a pre-made "off-the-shelf" entity that the authors purchased.
posted by Robert Angelo at 8:30 AM on April 25, 2013
Also, I'm think one of the companies in the article was a shelf corporation (not shell, as I'd initially said in my question. That is, it was a pre-made "off-the-shelf" entity that the authors purchased.
posted by Robert Angelo at 8:30 AM on April 25, 2013
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Right now, the team here at Planet Money are the proud owners of Unbelizable Inc., in Belize City, and Delawho?, right here in the United States.
posted by payoto at 7:58 AM on April 25, 2013