Judging by the variety of answers on this thread alone, I'm going to assume that if random internet commenters all know that a place is the most secure, secret place to do something illegal, it probably isn't really.

The first rule of tax shelters...

How is it better (or worse!) than Delaware? Reporting requirements for Delaware C Corps are pretty lax from what I have seen. I even recall reading somewhere that few Americans were ensnared by the Panama Papers scandal [1] because they could just register in Delaware.

p.s., Sorry any Delaware residents. You live in a very nice state.

[1] https://en.wikipedia.org/wiki/Panama_Papers

You mean the one that nails people driving on interstates with toll booths for driving about 20 miles in the state?

This state should be called the "land of trolls"

North or South Dakota? Have heard a lot about South Dakota trusts, but nothing about North.

When you see Citi 'headquarted' in Sioux Falls you know something is up. ND, SD, NV, AZ, UT, FL, TX--one seldom gets a warm and fuzzy feeling of reassurance from these business addresses.

Banks it makes sense. SD doesn't have usury laws, and multi-state banks can charge interest based on their home state's laws.

As to what the other states get you, I'm not sure.