[ninenot]

As long as California continues its hideous tax system, it will lose revenue through the wholesale sheltering of assets and income in Nevada

BTW, you may substitute "Wisconsin" for "California" in your quote. At this time, WIs D of Rev is suing a well-known Wisconsin based retail chain for $800K in tax, penalty, and interest, for establishing an asset-rich income-earning operation in Nevada to which the Wisconsin company sends all its Wisconsin earnings in payment for 'trademark rights.'

The dodge was put together by Deloitte at a cost of around $600K and INFURIATES the rapacious Wisconsin tax men.

[the bottle let me down]

IP holding companies of this sort are a well-known, old arrangement. As state taxes go up, they are becoming increasingly common, as are the states' efforts to crack down on them.