The new high-tech startup mecca: Vermont?

Vermont Governor Jim Douglas just signed a new bill allowing the creation of "virtual companies" to be headquartered, figuratively, in the Green Mountain State. No physical headquarters required. No in-person board meetings. Nada. The business can just be an Internet-resident operation. (If it was my startup, I'd pick somewhere in Vermont's Tolkien-esque Northeast Kingdom as my virtual homebase.)

This could be a boon to web-centric startups who don't need the added financial burden of physical property. But could it also become a haven for people like infamous Spam King Sanford Wallace, who the Feds were able to bust in part because at least he had a physical presence for his operation here in next-door New Hampshire?

Here's the story via GigaOm: Vermont OKs the Creation of Virtual Corporations