And keep in mind that Delaware is one of the states in which many companies and individuals globally use Delaware as tax havens as well as create shell companies to avoid paying taxes. Delaware has ties to the Panama Papers scandal.
More than 110 trademarks assigned to new company, records show
‘It’s sort of too complicated to explain,’ lawyer says
As Donald Trump prepared for the Republican primaries, he transferred dozens of his most prized assets, the “Trump” trademarks that adorn everything from hotels to ties to his U.S. golf courses, into a new Delaware-based company — a move that offers him a chance to cut his income-tax bills.
By shifting more than 110 registered or pending trademarks to Delaware, Trump consolidated them in a state that doesn’t tax income from royalties on intellectual property. Among the trademarks he moved are his own name and those of some of his best-known properties, including “Trump National Golf Club,” “Trump Tower” and “Mar-a-Lago,” his private club in Palm Beach, Florida, according to records from the U.S. Patent and Trademark Office.
He also shifted some of his less prominent trademarks, including “Trumptini,” a martini made with pink lemonade, and a design of a Scottish crest that he applied for and received in 2012. The crest shows a lion, a two-headed eagle and the Latin phrase “Nunquam Concedere” which means “Never Give Up.”
Moving the trademarks to his new company, DTTM Operations LLC, will enable Trump to avoid other states’ income taxes on royalties paid for their use — an income stream worth perhaps tens of millions of dollars or more, according to a federal financial disclosure form he filed this month.