[seehafer]

People incorporate Delaware because of Delaware's well-codified, well-understood corporate law, that simplifies things like investments, M&A and the like.

Incorporating in Delaware doesn't exempt you from NYC income tax if you do all your business in NYC.

[javajosh]

That's embarrassing. But then again, I'm CA incorporated so I guess I never really understood the legal implications of extra-state incorporation. Thanks for clearing that up!