From Bloomberg:

South Dakota legislators have loosened the state’s laws to encourage wealthy out-of-staters to set up trusts there, often for tax reasons. The families needn’t move to the state or even invest there. In the past four years, the amount of money administered by South Dakota trust companies has tripled to $121 billion, almost all of it from out of state.

Source: Bloomberg

Category: Taxes and Policy

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5 Responses to “Tax-Friendly South Dakota Shelters Out-of-State Billions”

  1. rd says:

    It appears that South Dakota is solving the problem facing Mathew Crawley’s heirs in the new Downton Abbey season. If only Robert could have put his wife’s money in a diversified South Dakota trust instead of a Canadian railway.

  2. Moss says:

    So this is where all the job creators have gone. A tax friendly trust in a tax friendly state. Who would have known.

  3. VennData says:

    Billionsmore in US govt debt for a few dozen paralegals that would have been working elsewhere.

    Tax cuts for the rich. I hope the Koch Brothers spend billions ptoducng ads that support making trusts more like people, save the perpetuity part.

  4. Scott says:

    Capital, like water, flows down the path of least resistance.

  5. theexpertisin says:

    South Dakota vs. the Progressives in a War for Wealth.

    The Black Hills attract the riches as in days of yore while the faces on Mt. Rushmore look on with a display of serenity.