According to Wolf’s A Fresh Start plan, “because of the Delaware loophole, 70 percent of the companies that do business in the state do not pay corporate or net income taxes. This shifts the tax burden to small business and individual citizens. Tom Wolf will push for the ‘combined reporting’ of corporate profits, which will reduce the ability of corporations to avoid paying their fair share.” – We assume this wasn’t plagiarized.
However, records obtained by the Corbett-Cawley campaign show that The Wolf Holdings Organization, Inc. was incorporated on April 21, 2006 at 2711 Centerville Road in Wilmington, Delaware, where Tom Wolf is listed as the officer/director.
Wolf claims in the Philadelphia Inquirer that the company is incorporated in Delaware solely for governance purposes. However, according to University of Delaware professor Sheldon Pollack, “People think Delaware law for public companies is more favorable to management . . . [but] for a family company to be chartered in Delaware makes no sense. It's really irrelevant."
The Corbett-Cawley campaign believes that Pollock’s assertion makes it all the more likely that Wolf is incorporating in Delaware for the purpose of taking advantage of the tax loophole that he is campaigning against, which is why we are calling for Wolf to release his corporate tax returns as he has repeatedly stated that he would.
“If millionaire Secretary Tom Wolf is being sincere that he is not incorporated in Delaware for tax purposes, he should come clean by releasing his corporate tax returns to show that he has nothing to hide,” stated Corbett-Cawley Campaign Manager Mike Barley. “However, as Secretary Wolf continues to renege on his promises, it creates an even larger cloud of doubt over what else he is hiding.”
The campaign also made note that this would not be the first time that Wolf has been hypocritical in his campaign platform, noting his multi-million dollar self-funded primary campaign despite his personal repeated calls for the public financing of campaigns, and his previous statement that “if a candidate has to [self-fund] he shouldn't be a candidate.”
“The only thing Secretary Wolf has been consistent on is his flagrant hypocrisy, so it should come as no surprise that he’s once again not even playing by his own rules,” concluded Barley.
View the public document on Wolf’s Delaware-based company by clicking HERE.
The Corbett-Cawley campaign believes that Pollock’s assertion makes it all the more likely that Wolf is incorporating in Delaware for the purpose of taking advantage of the tax loophole that he is campaigning against, which is why we are calling for Wolf to release his corporate tax returns as he has repeatedly stated that he would.
“If millionaire Secretary Tom Wolf is being sincere that he is not incorporated in Delaware for tax purposes, he should come clean by releasing his corporate tax returns to show that he has nothing to hide,” stated Corbett-Cawley Campaign Manager Mike Barley. “However, as Secretary Wolf continues to renege on his promises, it creates an even larger cloud of doubt over what else he is hiding.”
The campaign also made note that this would not be the first time that Wolf has been hypocritical in his campaign platform, noting his multi-million dollar self-funded primary campaign despite his personal repeated calls for the public financing of campaigns, and his previous statement that “if a candidate has to [self-fund] he shouldn't be a candidate.”
“The only thing Secretary Wolf has been consistent on is his flagrant hypocrisy, so it should come as no surprise that he’s once again not even playing by his own rules,” concluded Barley.
View the public document on Wolf’s Delaware-based company by clicking HERE.
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