Currently viewing the tag: "Delaware Loophole"

HARRISBURG, March 4, 2015 – State Sen. Christine M. Tartaglione today applauded Gov. Tom Wolf for his bold and promising 2015-2016 budget proposal. She said his willingness to push a higher minimum wage, his belief in proper education funding, his support of her idea to close the Delaware loophole, and ideas to help relieve the […]

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HARRISBURG, Dec. 5, 2012 –   State Sen. Christine M. Tartaglione is asking Corbett administration officials why an international gambling company created a Delaware corporation to submit its bid to take over the Pennsylvania Lottery. According to Delaware’s Department of State, Camelot Global Services PA LLC was created Nov. 13 with its headquarters located at 1209 […]

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HARRISBURG, April 3, 2012 – State Sen. Christine M. Tartaglione joined Senate Democratic colleagues at a Capitol news conference today calling on the Corbett administration to focus budget priorities on jobs and working families. “Last year’s budget and this year’s proposal put a heavy burden on Pennsylvania’s vulnerable families while large corporations reap the rewards […]

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Delaware Loophole – Background Delaware has no corporate tax on income from “non-tangible assets,” such as leases, trademarks, royalties and copyrights. Large corporations form Delaware subsidiaries and transfer ownership of such assets, then makes steep payments for the use of the assets, making them deductible expenses in Pennsylvania. The toy store ToysRUs owns a Delaware […]

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