While the media is squawking about Doug Forrester and his insurance companies and where they are based, Tom Hester in the Star-Ledger notes that Jon Corzine owns two companies registered in Delaware and has interests in a third [Focus turns to Corzine firms].

Corzine says he doesn’t get a tax break by incorporating in Delaware, he just did it because his lawyer likes setting up LLC’s in Delaware and that Delaware makes it easy to set up an LLC. The Ledger found an attorney who agreed that there were no tax advantages, but that by incorporating in Delaware, Mr. Corzine “..enjoys simple business regulations and avoids disclosure laws he would have to comply with by incorporating in New Jersey.” For instance, an LLC incorporated in Delaware is almost like a Swiss bank account, everything is private including the officers and all financial information.

The three companies have assets up to $114 million. One of the Delaware LLC’s, JSC Investments, gave Carla Katz her $470,000 loan/gift and another LLC is partially owned by Carl Icahn, who also owns an Atlantic City casino.

NJ GOP chairman Tom Wilson wants to Corzine to disclose more, but so far Corzine is not taking the bait.

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