How Delaware Thrives as a Corporate Tax Haven

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How Delaware Thrives as a Corporate Tax Haven

When it comes to massive tax avoidance by cash rich mega corporations (currently US non-financial corporations hold $4.8 trillion in liquid assets according to the IRS), all you need is a dropbox and some shabby awning over the entrance to a gloomy, non-descript office building.

NOTHING about 1209 North Orange Street hints at the secrets inside. It’s a humdrum office building, a low-slung affair with a faded awning and a view of a parking garage. Hardly worth a second glance. If a first one.

But behind its doors is one of the most remarkable corporate collections in the world: 1209 North Orange, you see, is the legal address of no fewer than 285,000 separate businesses.

Its occupants, on paper, include giants like American Airlines, Apple, Bank of America, Berkshire Hathaway, Cargill, Coca-Cola, Ford, General Electric, Google, JPMorgan Chase, and Wal-Mart. These companies do business across the nation and around the world. Here at 1209 North Orange, they simply have a dropbox.

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Donagh is the editor of Irish Left Review. Contact Donagh through email: dublinopinionAtgmail.com