Shell Companies are a common business enterprise. There is nothing inherently legal.
"State Farm", for example is a Shell Company. When you buy from "State Farm", you are really inured under one of its subsidiaries as:
State Farm Fire and Casualty Company
State Farm Life Insurance Company
State Farm Life and Accident Assurance Company (NY/CT/WI)
State Farm County Mutual Insurance Company of Texas (TX auto)
State Farm Mutual Insurance Company of Texas (TX preferred auto)
State Farm Indemnity Company / State Farm Guaranty Insurance Company (NJ auto)
State Farm General Insurance Company (CA home)
State Farm Florida Insurance Company (FL home)
Dover Bay Specialty Insurance Company
State Farm Lloyds (TX home/commercial)
State Farm Bank, F.S.B.
State Farm Investment Management Corp. (SFIMC)
State Farm VP Management Corp. (SFVPMC)
State Farm International Service, Inc.
State Farm Associate's Funds Trust
State Farm Mutual Fund Trust
SF Insurance Placement Corporation of Canada
Insurance Placement Services, Inc.
State Farm International Life Insurance Company Ltd.
Plaza One Realty Co.
State Farm Specialty Insurance Company
State Farm Guaranty Insurance Company
State Farm Variable Product Trust
HiRoad Assurance Company
Amberjack Ltd. (Real Estate)
State Farm Insurance of Canada
Of course Shell Companies can be used to hide money for a while. No doubt. But use of the term "Shell" does not imply anything at all improper. It is just a business and taxation strategy.
In fact, I have two dormant shell companies myself...
rfenst wrote:
