suppose I own two corporations...one is incorporated in delaware and another one incorporated in cayman islands
suppose the website is currently owned by the cayman islands corporation and the website is generating revenue...
suppose I want to transfer ownership of the site from the cayman islands corporation to the delaware corporation...and since I'm transferring ownership between corporations I own, the delaware corporation does not pay anything to the cayman islands corporation for the transfer of ownership...
1) legal? if it's legal is there a specific term for such transfer
2) going to be taxed by the US govt?
also same questions except that this time it's transfer from the delaware corporation to the cayman islands corporation