Disney is a Delaware Based Corporation?

[hertamaniac]

And I truly support your search, and hope you know I was talking about MY question/wondering about credit card companies being "stupid", NOT yours. Never even considered that, and was pretty taken aback when Anne made me realize that's probably what you thought.

I think I misread your original statement. Apologies.

Now, if a company incorporates in Delaware, I do wonder how that affects them if they apply for state funding/grants that are not in Delaware? For example, we are based in FL even though we are "incorporated" in Delaware. Now, I am thinking that our state (FL), may have limited incentives or restrictions on companies not incorporated in our state.

 

[SorcererHeidi]

I think I misread your original statement. Apologies.

Now, if a company incorporates in Delaware, I do wonder how that affects them if they apply for state funding/grants that are not in Delaware? For example, we are based in FL even though we are "incorporated" in Delaware. Now, I am thinking that our state (FL), may have limited incentives or restrictions on companies not incorporated in our state.

@hertamaniac . No worries, it's all good.

 

[GAN]

Rhode Island is trying to now be attractive with some of the laws they are changing- particularly about handling of reserves and retroactive reinsurance transactions

Hey ...I resemble those remarks.

 

[zonkvadr]

I had just moved to Delaware when Disney was in litigation with Michael Eisner. They were on the news everyday ,having to actually physically be here for the court case.

It was exciting stuff for our little state!

 

[SorcererHeidi]

Hey ...I resemble those remarks.

I use that line all the time, @GAN . And it never ceases to amaze me the number of people who appear by it. LOL

 

[hertamaniac]

I use that line all the time, @GAN . And it never ceases to amaze me the number of people who appear by it. LOL

Sounds like copyright time.

 

[Polybound]

In this week's episode, a quick inspection of a recent lawsuit against Disney showed that, apparently, Disney is a Delaware-based corporation.

I worked for a couple of start-ups and whenever we had to fill-out our grant/government/military funding applications, we also had to indicated that we were a Delaware based corporation. Are there tax/other advantages, legally, that warrants a company to incorporate in Delaware?

From Wikipedia...

The Delaware Court of Chancery focuses solely on business law and uses judges instead of juries. For corporations, there is no state corporate income tax for companies that are formed in Delaware but do not transact business there (but there is a franchise tax).

Sounds like a Corporation heavy leverage position for sure.

The vast number of major corporations are incorporated in the state of Delaware and it has nothing to do with state income taxes paid. Corporate state income taxes paid (if any), are strictly paid to the state that they're headquartered in, not incorporated in. That's why there's been an exodus of companies in recent years from states like California, NY, NJ, etc. to non-income tax states like Texas.