Just reading the complaint filed by Air America seeking a TRO so they can go back on the air. Their point seems to be "we know we didn't pay our bills in California but that doesn't give you the right to take action against us in all markets where we do business with you" Fairly ridiculous, if you have proven to be a financial risk to me in Arizona I am not going to want to do business with you in Nevada - and I shouldn't have to.
Something else that caught my eye, though, is the fact that Air America is a Delaware Corporation. What this means is, despite being based in New York, they chose to incorporate in Delaware where they will have a much lower tax burden. Personally, I have always loved the fact that Delaware set themselves up this way. I am all for businesses finding ways to increase their profits and it is a steady stream of cash for the state. What I find amusing is the "tax the rich" folks, the "not everyone is paying their fair share" folks, the "big evil corporations are shirking their responsibilities" folks, the "we must protect the people from the practices of big business" folks, have gone out of their way to lower their own tax burden and protect themselves from liability. Telling.
More info from Nation Master:
Delaware is well known as a corporate haven, and many major corporations are chartered in Delaware because the state charges no corporate taxes not operating within the state and has laws and courts that are seen as friendly to corporations.The Delaware Company also lists the tax relief and liability protection afforded by Delaware incorporation. Posted by Vox at April 15, 2004 10:23 AM | politics