Wyoming To Deal With Shell Corporations
The Wyoming Senate is working on a pair of bills intended to give the Secretary of State more power and authority to deal with shell corporations.
Those are companies without active business operations or significant assets and sometimes viewed as tax havens.
Senator Cale Case says there are a number of loose ends the state is trying to tie up.
“You know we are really trying to tighten putting a name and face with respect to corporate registrations,” says Case. “To make sure when indeed we have to contact a corporation that there is somebody there that stands by the corporate, at least is a representative of the corporation for service of process or whatever we have to do.”
Case says in the past if the Secretary of State thought there was an illegal operation they had limited ability to intervene and this should solve that problem. The bill will be debate two more times by the Senate.