actually collected by the government. The tax gap in 2006 was estimated to be $450 billion. The tax gap two years later in 2008 was estimated to be in the range of $450–$500 billion and unreported income was estimated to be approximately $2 trillion. Therefore, 18–19 percent of total reportable income was not properly reported to the IRS. United States as a tax haven Although the United States as a whole is not generally viewed as a tax haven, among its 50 states there are some that individuals and companies use to store their wealth and avoid or evade taxes. This fact was mostly revealed in the leaked Pandora papers – 11.9 million documents that, beginning from October 31, 2021, exposed offshore accounts of world leaders and celebrities. In total the United States were revealed to shelter the second largest amount of money in the world. South Dakota Between the years 2011 and 2021 the assets managed in South Dakota by trust companies went from $75 billion to $367 billion. The assets are coming from all over the world – The South Dakota Trust Company has clients from 54 nations. Trusts are particularly popular in South Dakota because, in 1983, it revoked a law that prevented hereditary estates, allowing for the creation of trusts (serving to pass property onto one's children) that, while preventing the sale of the estate assets, also shield those assets from tax. Unlike in the precedent for this in the English common law where these trusts could only exist for 21 years, South Dakota enables trusts to exist indefinitely. Trusts in South Dakota also serve as shields from government inspections and can even protect an individual if they get divorced or file a bankruptcy. In addition to this South Dakota is also one of nine states in the United States with no income tax. Delaware The state of Delaware is home to nearly 68% of the Fortune 500 companies. Corporation trust center in the city of Wilmington is the address to over 285,000 companies including Delaware entities of Google, Amazon, General Motors, Deutsche Bank's subsidiaries etc. This is because this state does not collect any local and state sales tax and the companies based there are not subject to any income tax on their intangible assets. Legally this tax haven can be used by holding companies that charge their subsidiaries trademark charges – thus moving their