If you own a Fortune 500 business, you probably incorporated it in Delaware. The state has long been favored by corporate America, offering tax-benefits and a bespoke, pre-Revolutionary War court system tailored to business needs. But now Delaware’s standing as the country’s top corporate haven is under attack.
This week on Lever Time, senior podcast producer Arjun Singh sits down with The Lever’s Katya Schwenk and Luke Goldstein to learn why the tiny East Coast state has been corporate America's haven for decades. But there’s more to the story. Why are other states now battling to seize its title — and how does it impact the rest of us? And how is the involvement of Elon Musk making everything worse?
The Lever's reporting explains why Delaware is ground zero in the national oligarch takeover and why what happens in Delaware doesn’t stay in Delaware. It means corporate deregulation from coast to coast.
To read an unedited transcript of this episode, click here.
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I don't believe the situation in Delaware is new. Biden as Senator in Delaware has some responsibility for the state's decision to be the tax haven for businesses. It has been the tax haven for years. Aren't there buildings in Delaware that house hundreds of such businesses?