Usa Tops International Tax Haven List, Thanks To Delaware

The Government Accountability Office likes to point its finger at Luxembourg and the Cayman Islands for sheltering tax cheats. But according to the U.K.-based Tax Justice Network, the United States is the biggest tax shelter of 'em all, thanks to the great state of Delaware. Delaware, says the Tax Justice Network, is "the most secretive financial jurisdiction in the world." That's based on an analysis of 60 financial jurisdictions according to level of secrecy and cooperation with foreign tax authorities. Luxembourg comes in second, followed by the Switzerland, the Cayman Islands, and the United Kingdom. Here are some fun facts about Delaware, per TJN's release: * According to the Delaware Secretary of State's office their operating budget was $12 million in 2007 and they made $24 million in the fees for expedited incorporation filings alone. * There are currently some 695,000 active entities registered in Delaware, including 50 percent of the corporations publically traded on the U.S.