What Is A "Shell Company"?

[struth]

Except they have never tied Joe to it. Not once, never!
MAGA

of course "they didn't" - Hunter and his business partners did...10 percent for the "big guy"

 

[struth]

All 500 of his companies develop real estate? Why 500?

Mr. Trump uses a web of LLCs and private entities to house these assets, which can obscure the extent of his holdings. For example, Trump Tower on New York’s Fifth Avenue is owned by Tower Commercial LLC, which is owned in turn by three other entities, all ultimately controlled by Mr. Trump.

How Donald Trump’s Web of LLCs Obscures His Business Interests​

The opacity of his holdings makes it impossible to gauge the full extent of potential conflicts he may face as president​

No, not all of them....he also made shirts, steaks, etc, and every building and golf course was their own company.

 

[Aldo Raine]

of course "they didn't" - Hunter and his business partners did...10 percent for the "big guy"

Except that turned out to be just more bullshit. How many witlesses have they brought in that aren't Chinese or Russian spies? Or gun runners, great group the MAGAGATARDS run with!
MAGA

 

[struth]

Except that turned out to be just more bullshit. How many witlesses have they brought in that aren't Chinese or Russian spies? Or gun runners, great group the MAGAGATARDS run with!
MAGA

Um no it didn’t, you just have decided to ignore it

Like when the DOJ said xiden violated the law but was too senile to prosecute

 

[struth]

Well, everyone seems to know that Trump is farting in court.

Cool, i get gas sometimes too. Glad to see my president isn’t above biological functions

 

[sealybobo]

Seriously, I don't think hillary's classing opposition research as legal advice or Trump's hiding payoffs WITH CAMPAIGN FUNDS to two women who for their own reasons climbed into a bed of shit are earth shaking. But when you run your winning campaign on promising to jail your opponent .... I hope nothing good ever happens to you ever again.

I heard the other day it was trump who put out the rumor that Ted cruz’ father had connections to lee Harvey Oswald? I wonder who came up with that Michael Cohen, Rudy or Sydney Powell? Which fixer did trump use?

 

[sealybobo]

Cool, i get gas sometimes too. Glad to see my president isn’t above biological functions

Trumps not acting very presidential in court. This is great! Next trial after the Supreme Court rules he doesn’t have immunity

 

[sealybobo]

No, not all of them....he also made shirts, steaks, etc, and every building and golf course was their own company.

The question s, what don’t we know because he worked with the national enquirer to silence lots of people. mcdougal and stormy he paid off. Dozens of other victims of trump were paid for their exclusive stories, and pecker shelved those stories. We need to see those stories David pecker

 

[mamooth]

Why are you deflecting from the fact the Xidens had numerous shell companies, and nobody knows what sort of business they were in?

Because you just made that up.

That's the simple answer to all the big lies you push here. You just make it all up. Every time, without exception.

And why do you make it all up? Because Trump rakes in the ChinaBucks and the Russiabucks and the Saudibucks, and you've been ordered by Trump/China/Russia/SaudiArabia (the same entity) to run cover for Trump raking in the foreign cash.

If you're not lying proudly for the glory of Trump and China, you should list, individually, all these LLC's that President Biden supposedly runs himself. That means President Joe Biden himself, not "Some guy that Hunter Biden's barber's cousin knew". And provide links to the hard evidence. That means actual hard evidence, and not "Look at this kook right-wing blogger claiming there was evidence!"

Needless to say, you can't. Even Comer didn't pretend he could back up his BS.

 

[Dragonlady]

I keep hearing people on this forum ominously stating that Hunter Biden has "20 shell companies". The implication is that this is something really, really bad.

But when I ask these people what "20 shell companies" means to them, I get silence.

So I thought I'd throw it out there to the forum in general and see what happens.

What does "shell companies" mean to you?

Thank you.

Comer says he will issue subpoenas 'today' for Hunter Biden, James Biden bank records

Rep. James Comer said he will issue subpoenas "today" for bank records for Hunter Biden and James Biden as part of their impeachment inquiry into President Joe Biden.

abcnews.go.com

Corporate law clerk with 30 years experience here. This whole attempt by Republicans to make shell corporations sound nefarious is similar to their hysteria around members of the Obama Administration having private emails under fake user names.

Limited liability corporations exist for three main reasons:

1. To limit the debts of the corporation to the corporation and its assets. Unless you sign a personal guarantee, your house and personal assets are protected from any debts the corporation takes on.

2. To reduce personal income taxes. If your income is very high, you might want to incorporate and pay 22% tax rate. You can then take a portion of your income in stock dividends which are taxed at a minimum rate of 0% and a maximum of 20% depending on your income and filing status.

3. To invest with others in a business, which each owning shares in proportion with their investment.

A "shell corporation" is a corporation with no assets and no real business. There are a lot of legitimate uses for "shell corporations", and also a few less legitimate uses - mainly to disguise where money is coming from, where it's going to, and who owns it.

The main legitimate use for a "shell corporation" is #2 - to reduce personal income taxes for high income individuals. Someone like an international consultant. Employers sign a contract with 123456 Ontario Limited for your consulting services, and they're free from paying withholding taxes, and other employer taxes, and your income is now taxes=d at the lower corporate rate. Many of your normal living expenses now become tax deductible - cell phone, commuting expenses, personal electronics purchases.

In the case of people investing in overseas businesses, a shell corporation is used to shield the rest of your portfolio from an investment gone wrong - basically #1 above. Definitely important if the government is corrupt or unstable. These are essentially "holding corporations". They hold the stocks of your international investments.

When I read that the Biden's had 20 shell corporations for 9 different people investing in 3 different countries, the number seemed LOW. One holding corporation per person, per country.

 

[Dragonlady]

I heard the other day it was trump who put out the rumor that Ted cruz’ father had connections to lee Harvey Oswald? I wonder who came up with that Michael Cohen, Rudy or Sydney Powell? Which fixer did trump use?

It was Bannon.

 

[struth]

Because you just made that up.

That's the simple answer to all the big lies you push here. You just make it all up. Every time, without exception.

And why do you make it all up? Because Trump rakes in the ChinaBucks and the Russiabucks and the Saudibucks, and you've been ordered by Trump/China/Russia/SaudiArabia (the same entity) to run cover for Trump raking in the foreign cash.

If you're not lying proudly for the glory of Trump and China, you should list, individually, all these LLC's that President Biden supposedly runs himself. That means President Joe Biden himself, not "Some guy that Hunter Biden's barber's cousin knew". And provide links to the hard evidence. That means actual hard evidence, and not "Look at this kook right-wing blogger claiming there was evidence!"

Needless to say, you can't. Even Comer didn't pretend he could back up his BS.

What did I make up?

 

[struth]

The question s, what don’t we know because he worked with the national enquirer to silence lots of people. mcdougal and stormy he paid off. Dozens of other victims of trump were paid for their exclusive stories, and pecker shelved those stories. We need to see those stories David pecker

I’m sure you don’t know a lot…but what we do know pales in comparison to what we do know about the demafacist

 

[candycorn]

I keep hearing people on this forum ominously stating that Hunter Biden has "20 shell companies". The implication is that this is something really, really bad.

But when I ask these people what "20 shell companies" means to them, I get silence.

So I thought I'd throw it out there to the forum in general and see what happens.

What does "shell companies" mean to you?

Thank you.

Comer says he will issue subpoenas 'today' for Hunter Biden, James Biden bank records

Rep. James Comer said he will issue subpoenas "today" for bank records for Hunter Biden and James Biden as part of their impeachment inquiry into President Joe Biden.

abcnews.go.com

Planet Money did a whole series on this topic back in 2012. If you know anything about the show, they take financial and economic questions and try to answer them using real life scenarios--some times. Like, for example, they had a fund raiser so they didn’t just offer T-shirts to sell. They went into many of the aspects of how a T-shirt is made. As I recall, they wanted to make like 5,000 of these shirts. They bought the cotton from a farmer in Mississippi. As it turns out, the regular “bale” of cotton was too big so they had to buy an odd lot of cotton. As I recall, the cotton was then shipped to Nicaragua (maybe it was Honduras) to be spun into thread. Then it was shipped, I think, to Panama to be turned into a shirt. The reporting at one of those places was that the company was about to be shuttered because just like they undercut the spinners/textile mills in North Carolina, they were being under cut by someone in Asia. Anyway, the product was shipped back to Miami where a reporter was there to meet the ship. Supposedly the reporter who saw the ship off before it left to Miami got on board and wrote the receiving reporter’s name on the side of the container with her lipstick. I’d be shocked to see if it stayed on. LOL. From the dock it went to a transfer agent who took it to a distributor.

Anyway, a similar episode took place in 2012 when they sat up a shell company. They actually sat up two using a service that specialized in this. One of the companies was set up in Belize and they called it Un-Belizeable.



I’m going to give it a listen tonight when I have my lunch. I didn’t know there was follow ups. Anyway...the two reporters who worked on the story got into kind-of a serious exchange. I remember there was a male and a female reporter. On the day the incorporation papers arrived, the male reporter was out of the office so she signed them and a while later, the IRS came looking for her. LOL. She wasn’t in any hot water or anything but they had some questions and I would imagine it was a bit un-nerving.

Just a long way of saying--listen to the link.

 

[candycorn]

Planet Money did a whole series on this topic back in 2012. If you know anything about the show, they take financial and economic questions and try to answer them using real life scenarios--some times. Like, for example, they had a fund raiser so they didn’t just offer T-shirts to sell. They went into many of the aspects of how a T-shirt is made. As I recall, they wanted to make like 5,000 of these shirts. They bought the cotton from a farmer in Mississippi. As it turns out, the regular “bale” of cotton was too big so they had to buy an odd lot of cotton. As I recall, the cotton was then shipped to Nicaragua (maybe it was Honduras) to be spun into thread. Then it was shipped, I think, to Panama to be turned into a shirt. The reporting at one of those places was that the company was about to be shuttered because just like they undercut the spinners/textile mills in North Carolina, they were being under cut by someone in Asia. Anyway, the product was shipped back to Miami where a reporter was there to meet the ship. Supposedly the reporter who saw the ship off before it left to Miami got on board and wrote the receiving reporter’s name on the side of the container with her lipstick. I’d be shocked to see if it stayed on. LOL. From the dock it went to a transfer agent who took it to a distributor.

Anyway, a similar episode took place in 2012 when they sat up a shell company. They actually sat up two using a service that specialized in this. One of the companies was set up in Belize and they called it Un-Belizeable.



I’m going to give it a listen tonight when I have my lunch. I didn’t know there was follow ups. Anyway...the two reporters who worked on the story got into kind-of a serious exchange. I remember there was a male and a female reporter. On the day the incorporation papers arrived, the male reporter was out of the office so she signed them and a while later, the IRS came looking for her. LOL. She wasn’t in any hot water or anything but they had some questions and I would imagine it was a bit un-nerving.

Just a long way of saying--listen to the link.

Its really sort of fascinating...I had forgotten a lot of the details from the pieces. Here are the incorporation documents.

 

[Aldo Raine]

Um no it didn’t, you just have decided to ignore it

Like when the DOJ said xiden violated the law but was too senile to prosecute

Like when Barr shielded tRump from well everything. Barr can't run interference for tRump now and thus 4 indictments and 91 criminal charges!
MAGA

 

[Rumpole]

I keep hearing people on this forum ominously stating that Hunter Biden has "20 shell companies". The implication is that this is something really, really bad.

But when I ask these people what "20 shell companies" means to them, I get silence.

So I thought I'd throw it out there to the forum in general and see what happens.

What does "shell companies" mean to you?

Thank you.

Comer says he will issue subpoenas 'today' for Hunter Biden, James Biden bank records

Rep. James Comer said he will issue subpoenas "today" for bank records for Hunter Biden and James Biden as part of their impeachment inquiry into President Joe Biden.

abcnews.go.com

A shell company is a paper corporation, it can own things, it can have a bank account, but it doesn't have employees, buildings, branches, and the like. A shell company has about a dozen legal/legit uses. It can be used for illegit uses, as well. Republicans toss the word assuming it's evidence of crime, but it is only a crime if there is supporting evidence. Otherwise, LLCs (shells) are not prima facia evidence of criminality. Hell, Trump has what, 500 of them, but no one seems to mind. Ahh, but if your name is Hunter Biden, American citizen, grand annoyance to the right, then we have a problem.

Copilot reports:


(LLC), can have several legitimate and legal uses. Here’s a list of some common legal purposes for an LLC shell corporation:

1. Holding Assets: Shell corporations are often used to hold assets such as real estate, intellectual property, or financial assets. This can help in managing assets across different ventures or geographical locations more efficiently.
2. Risk Management: By separating different business activities into different LLCs, businesses can isolate liabilities. This means if one part of the business is sued, the liabilities do not necessarily affect the other parts.
3. Tax Planning: Shell corporations can sometimes help in optimizing tax obligations through legal structures that maximize tax efficiencies. This must be done within the legal frameworks of the jurisdictions involved.
4. Estate Planning: Individuals may use shell LLCs to manage and protect family assets, ensuring easier transfer of wealth and management of inheritances.
5. Privacy: Some business owners may use shell companies for legitimate privacy reasons, keeping their identities discreet in competitive or sensitive situations.
6. Simplifying Joint Ventures or Partnerships: LLCs can be used to structure joint ventures or partnerships, allowing different parties to contribute assets or capital while limiting their liabilities.
7. Financing: Shell corporations can be useful in structuring financing arrangements, such as through the issuance of bonds or other securities, without involving the primary business operations directly.
8. Foreign Operations: Companies often establish shell LLCs in different countries as a part of international expansion strategies to manage investments or operations in those locales legally and efficiently.
9. Cost Management: Managing costs through a centralized shell corporation can lead to efficiencies in administration, especially for large enterprises managing multiple subsidiaries.
10. Mergers and Acquisitions: During mergers and acquisitions, shell corporations can be used to facilitate the process, either as acquisition vehicles or as means to restructure or segregate parts of businesses.

 

[Rumpole]

A "shell" company is a company that has no ongoing business operations, products or services. But let's give the Bidens the benefit of the doubt. They could clear this up easily by producing the list of employees working for each of their companies, their profit/loss statements, and payroll information. All 20 of them.

Trump has disclosed holdings in approximately 500 limited liability companies (LLCs, AKA 'shell corporations) across at least 25 countries, and he, like Hunter, is pretty tight lipped about it, so why don't you ask him? Oh, I see, his name isn't Biden. Got it.

 

[Rumpole]

Corporate law clerk with 30 years experience here. This whole attempt by Republicans to make shell corporations sound nefarious is similar to their hysteria around members of the Obama Administration having private emails under fake user names.

Limited liability corporations exist for three main reasons:

1. To limit the debts of the corporation to the corporation and its assets. Unless you sign a personal guarantee, your house and personal assets are protected from any debts the corporation takes on.

2. To reduce personal income taxes. If your income is very high, you might want to incorporate and pay 22% tax rate. You can then take a portion of your income in stock dividends which are taxed at a minimum rate of 0% and a maximum of 20% depending on your income and filing status.

3. To invest with others in a business, which each owning shares in proportion with their investment.

A "shell corporation" is a corporation with no assets and no real business. There are a lot of legitimate uses for "shell corporations", and also a few less legitimate uses - mainly to disguise where money is coming from, where it's going to, and who owns it.

The main legitimate use for a "shell corporation" is #2 - to reduce personal income taxes for high income individuals. Someone like an international consultant. Employers sign a contract with 123456 Ontario Limited for your consulting services, and they're free from paying withholding taxes, and other employer taxes, and your income is now taxes=d at the lower corporate rate. Many of your normal living expenses now become tax deductible - cell phone, commuting expenses, personal electronics purchases.

In the case of people investing in overseas businesses, a shell corporation is used to shield the rest of your portfolio from an investment gone wrong - basically #1 above. Definitely important if the government is corrupt or unstable. These are essentially "holding corporations". They hold the stocks of your international investments.

When I read that the Biden's had 20 shell corporations for 9 different people investing in 3 different countries, the number seemed LOW. One holding corporation per person, per country.

Yeah, Trump has 500 of them across at least 25 countries, they aren't hounding him for what they are for.

 

[struth]

Like when Barr shielded tRump from well everything. Barr can't run interference for tRump now and thus 4 indictments and 91 criminal charges!
MAGA

when did he "shield" him?

Barr, a vocal Trump critic, says he will ‘support the Republican ticket’ in November​

Former attorney general previously said voting for Trump would be “playing Russian roulette with the country,” but said Wednesday that a “continuation of the Biden administration is national suicide”​

https://www.washingtonpost.com/politics/2024/04/17/barr-vocal-trump-critic-says-he-will-support-republican-ticket-november/