Need to Hide Some Income? You Don’t Have to Go to Panama

April 7, 2016 3:28 PM

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Need to Hide Some Income? You Don’t Have to Go to Panama

For wealthy Americans looking to veil their assets and shield some of their income from taxation, there is no need to go to Panama or any other offshore tax haven. It’s easy to establish a shell corporation right here at home.

“In Wyoming, Nevada and Delaware, it’s possible to create these shell corporations with virtually no questions asked,” said Matthew Gardner, executive director of the Institute on Taxation and Economic Policy, a nonprofit research organization in Washington.

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