[3][2] 66% of the Fortune 500, including Walmart and Amazon (two of the world's largest companies by revenue) are incorporated (and therefore have their domiciles for service of process purposes) in the state.
The statute has been credited with reducing the tax burdens on Delaware residents as revenues from the statute provide two-fifths of the state's budget, but has been controversial for facilitating tax dodging and money laundering by major corporations, as well as providing safe haven to money launderers, kleptocratic foreign rulers, and human traffickers.
The group that pushed for this legislation intended to establish a corporation that would sell services to other businesses incorporating in Delaware.
[citation needed] Because of the extensive experience of the Delaware courts, Delaware has a more well-developed body of case law than other states,[7] which serves to give corporations and their counsel greater guidance on matters of corporate governance and transaction liability issues.
[citation needed] Delaware has also attracted major credit card banks because of its relaxed rules regarding interest.
While most states require a for-profit corporation to have at least one director and two officers, Delaware laws do not have this restriction.
The person, who does not need to be a U.S. citizen or resident, may also operate anonymously with only the listing agent through whom the company is registered named.
[16] In addition, Delaware has used its position as the state of incorporation to generate revenue from its abandoned and unclaimed property laws.
[17] In February 2013, The Economist published an article on tax-friendly jurisdictions, commenting that Delaware stood for "Dollars and Euros Laundered And Washed At Reasonable Expense".