People flock to Delaware because it's the most corporate-friendly state, especially regarding regulations and court cases.
Washington and California are two massive economies, so it's no surprise that rich people flock there.
If this CEO wanted to register a shell company to dodge taxes, he would have done it in better places than Southlake, Texas [1]. Anyone can register an LLC as long as they have valid identification and pay the $300 Texas filing fee...nothing nefarious.
Talking about the Panama Papers will be a long story, but notice how relatively few Americans are on that list. It was mostly people from developing countries with weak rule of law and high levels of corruption...the type where rich folks hide assets to avoid the government or rival business goons coming for it, and it's much easier to cheat taxes in those countries because of weak law enforcement.
Washington and California are two massive economies, so it's no surprise that rich people flock there.
If this CEO wanted to register a shell company to dodge taxes, he would have done it in better places than Southlake, Texas [1]. Anyone can register an LLC as long as they have valid identification and pay the $300 Texas filing fee...nothing nefarious.
Talking about the Panama Papers will be a long story, but notice how relatively few Americans are on that list. It was mostly people from developing countries with weak rule of law and high levels of corruption...the type where rich folks hide assets to avoid the government or rival business goons coming for it, and it's much easier to cheat taxes in those countries because of weak law enforcement.
1- https://pitchbook.com/profiles/limited-partner/232176-79