The Democratic Duchess is Using This Trick to Dodge Taxes
According to a report in The Telegraph, Duchess of Sussex Meghan Markle is not only planning to come back to the United States, she’s already got a company here.
The Telegraph reported that Markle’s company Frim Fram Inc was officially moved out of California, a heavily Democratic state with taxes closer to the Democratic-socialist ideal level, and incorporated in Delaware, a state that is preferred by corporations nation-wide.
“The Duchess’s company Frim Fram Inc was moved out of California in December and incorporated in Delaware, which tax experts suggest could be done to avoid being hit with tax liabilities in California,” the Telegraph reported.
“Corporation filings seen by The Telegraph show that the move was made on New Year's Eve, while Meghan and her husband were taking a break in Canada, planning to quit their roles as ‘senior’ royals and become financially independent.”
The reason for this change was explained by Alan Stachura, from financial services firm Wolters Kluwer.
"You would want to do it on New Year's Eve simply because if you go one minute into the next year you would owe some taxes to California for the year of 2020," Stachura, said according to The Telegraph.
“It’s by no means an immediate thing but there is a long-term plan to end up back in the US with a second home in Canada, where they will also spent a great deal of time,” the Daily Mail’s source close to the couple said.
‘The couple used the words North America in their statement about where they planned to live deliberately. It doesn’t pin them down to any one place.”