What are you talking about? Any money earned in the US by these corporations are taxed at US tax rates. The purpose of off-shore holding companies is to handle money earned outside the US before it is repatriated into the US. Once the earnings are repatriated, they are required to pay US taxes.

The Bahamian and Bermudan governments give companies safe countries with stable banking systems and well-run legal systems for their off-shore business. They're like Delaware, but for international business.

You realize that the IRS accounting rules for taxation are completely different than the Account Standards Board's requirements for corporate reporting right?

The IRS rules are codified in the laws written by the US Congress, about 70,000+ pages of legalese that may or may not have anything to do with proper accounting of assets and earnings. While the Financial Accounting Standards Board has a set of accounting rules that are aimed at showing the true state of the company's economic health.

In fact, a company will have more than two sets of books, as European and Asian countries have their OWN accounting boards with their OWN set of accounting rules and their OWN tax laws with their OWN reporting requirements. And each of these books may show different levels of profitability.

I would have gone with "failed race-war instigator" and a link to a video clip of Cartman shouting "race war! race war everyone!"

That's who LiveJournal works. You can mark your journal (or flag someone elses) journal as Adult Content.

But I still get in trouble for staring and commenting out loud on the size of their nipples. This is a strange world we live in.

What if you use a large mass of magnetic monopole instead of another blackhole?