You're absolutely correct. However, Calironia requires that the foreign corporation register as such in California and that it have an agent for service (for any lawsuits) in California AND because they want to be able to tax the corporation.
Delaware has a franchise tax, income tax, stockholder information is public record, annual meeting date reporting is required, the state requires you to disclose your location, your company is regulated by their corporate commission and is definitely not a place you want to visit.
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