So Halliburton moves HQ to Dubai, and Banks Its ill-gotten gains there? not in the US? pays no taxes

[Blackhatjack]

Think about this for a minute.

Where do you physically deposit billions of dollars in cash without bringing it back into the US where tax would have to be paid on it?

Do you take it to a foreign exchange Bank to convert it to other currencies? Not only would that be hard to do, it would draw lots of attention.

In Dubai, the physical dollars are being 'banked' and distributed by a bank that will not turn over the conversion data to the US.

The billions being 'lost or misplaced' in Iraq are being handled the same way.

[indepat]

1. No Federal taxes, no Federal contracts, a pure and simple no-brainer

[Solo_in_MD]

2. You need to revisit US tax laws, corporate law, and US contracting policy

Will it be a US company
Where will it be incorporated
Who owns it

Those are the key factors for taxes and juridiction and whether they can hold US contracts, particularly with the DoD, not where it is headquartered.

[indepat]

11. Congress, imo, needs to revisit the entire issue

[ComerPerro]

3. They tried to attatch a resolution to War funding several times in the past few years

but the repigs kept killing it.

Wonder why?

[Solo_in_MD]

4. a resolution that dealt with where a company was headquatered?

[ComerPerro]

5. yeah, was really minor, a year or two ago.

basically, no company not based in the US (aka, not paying taxes) could recieve government contracts.

[Solo_in_MD]

7. It would not necessarily impact this situation

If the company remains incorporated in NJ, is US owned with US corporate officers it doesn't matter where the HQ is. They will still have to pay US taxes, obey relevant portions of US law etc. If they aren't, then they lose their US Gov contracts.

Look at it this was...a corporation is a citizen of sorts. As long as a US citizen remains a US citizen they are subject to US law, even if they are living in another country. They also have the rights of a US citizen to vote etc. Give up the citizenship any you lose the rights as well as the obligations. (this is a simplified ananlogy... there are special cases involving taxes etc)

[ComerPerro]

9. problem is, they get to lose the obligations but keep the rights

[Solo_in_MD]

10. If they become a foreign company they lose the right to bid on US contracts

Depending on how it is done would control who has any US liability. Nothing I have seen so far indicates that they are going to not be a US company.

[MiniMe]

6. And moves their records to a place where they can't be subpeoned

[Solo_in_MD]

8. Not true if they remain a US corporation