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Tax-Friendly South Dakota Shelters Out-of-State Billions

Posted By Barry Ritholtz On January 6, 2014 @ 2:30 pm In Taxes and Policy | Comments Disabled


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 [2]

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URL to article: http://www.ritholtz.com/blog/2014/01/tax-friendly-south-dakota-shelters-out-of-state-billions/

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[1] Image: http://www.bloomberg.com/image/i_Vq7iWUkboU.png

[2] Bloomberg: http://www.bloomberg.com/infographics/2013-12-27/billionaires-find-on-shore-tax-haven-in-south-dakota.html

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