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Feingold challengerís 16 businesses all registered in Delaware to avoid Wisconsin taxes

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OregonBlue Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 12:48 PM
Original message
Feingold challengerís 16 businesses all registered in Delaware to avoid Wisconsin taxes
Maybe he should run for the U.S. Senate in Delaware

Earlier this week, I wrote about about Madison-area real estate developer (and possible U.S. Senate candidate) Terrence Wallís tax dodge to avoid paying Wisconsin corporate taxes. At the time, I noted Wall had set up his companyís principle office in Wilmington, Delaware, ostensibly because Delaware has no state corporate taxes, allowing T. Wall Properties to benefit from the so-called ďLas Vegas loophole,Ē thus avoiding paying its fair share of taxes here in Wisconsin.

As if Terrence Wallís tax dodge for T. Wall Properties wasnít bad enough, Iíve done a little digging on the Delaware State Departmentís Division of Corporations website, where I was able to determine Terrence Wall has not one, but SIXTEEN corporations set up in Delaware to presumably avoid taxes here in Wisconsin:

T. WALL PROPERTIES ARIZONA L.L.C.
T. WALL PROPERTIES CORE FUND L.L.C.
T. WALL PROPERTIES L.L.C.
T. WALL PROPERTIES MASTER CORP.
T. WALL PROPERTIES VALUE FUND L.L.C.
T. WALL REALTY FUND I LLC
T. WALL REALTY MANAGEMENT LLC
TW Property Holding LLC
TW Property LLC
TW Properties LLC
HC Office Center Corp.
High Crossing Development Corp.
WS Office Center Corp.
Greenway Master L.L.C.
525 Junction Road L.L.C.
Greenway Office Center L.L.C.

So hereís what Iím thinking, since Terrence Wall thinks Delaware is such a great place to do business, seeing as how heís set up sixteen companies there, then perhaps he should consider running for Delawareís U.S. Senate seat in 2010, since I hear itís going to be open. So hereís a word of advice for Mr. Wall: Terrence, if youíre interested in running for the U.S. Senate in Delaware, just go ahead and visit the State of Delaware Commissioner of Elections website and fill out the necessary paperwork; youíd probably have a better chance of winning that seat than you do of winning Wisconsinís Senate seat.

http://bloggingblue.com/2009/09/30/maybe-he-should-run-...
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OmmmSweetOmmm Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 12:56 PM
Response to Original message
1. And being a US Senator, how does Feingold affect Wisconsin's state taxes?
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Jeff In Milwaukee Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:32 PM
Response to Reply #1
6. Every time the federal government "cut taxes"
what it's really doing is shoving estwhile federal expenses down to the state level. Need a new sewer treatment plant? Rebuilt schools and other infrastructure? Sorry, no money. Talk to your governor.

And it's state taxes (which Wall doesn't pay) that end up footing the bill.
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OregonBlue Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:34 PM
Response to Reply #6
7. Thanks. I think that is the point. this guy wants to represent Wisconsin but he doesn't want to pay
Wisconsin taxes. Just another carpet bagger.
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OmmmSweetOmmm Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:53 PM
Response to Reply #6
9. I realize that but it is mostly the Republicans who are behind cutting taxes & services! They are
helping to bankrupt the states.
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usregimechange Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:04 PM
Response to Original message
2. Do WI folks know this?
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OregonBlue Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:09 PM
Response to Reply #2
3. I don't know, that's why I posted it.
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zbdent Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:20 PM
Response to Original message
4. my money would be that this will be spun into a "positive" for Wall ...
since his party will make it into "Hey, I would have incorporated here if it weren't for the high taxes ..."

and the "liberal media" will not be honest ...
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madrchsod Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:25 PM
Response to Original message
5. he does`t do any business in delaware....
his developments are in wisconsin and arizona.

so i`m thinking he does`t stand a chance in hell of being elected in wisconsin..
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MinneapolisMatt Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 01:35 PM
Response to Original message
8. Kick & Rec for my neighbors!
:hi: from Minnesota!
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ProgressiveProfessor Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Oct-03-09 03:24 PM
Response to Original message
10. The vast majority of US companies incorporate in NJ for a variety of legal reasons
It doesn't necessarily impact taxes, which depend on locations, not where it is incorporated. Before you claim that he is not paying taxes, you might want to check on that first.

Disclaimer: I know nothing about the people and companies in the OP, but this is certainly the case in CA. Corporations doing business here, pay taxes here.
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roguevalley Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Oct-04-09 12:06 AM
Response to Reply #10
11. Russ isn't in danger is he? I would think he's safe. I love him.
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