Since 1913, Delaware has been the leading state for corporate America to call home. Its legal structure provides protections for corporations and their shareholders, an environment constructed for the very purpose of encouraging business incorporation. In fact, it may be said that this practice is the state’s bread and butter, with franchise taxes representing the state’s number two revenue source (after personal income taxes). However, businesses all over the country are increasingly being harassed by an unlikely bully: the State of Delaware. The cause is the way the state is administering its unclaimed property laws.
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