- The Big Picture - http://www.ritholtz.com/blog -

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

[1]

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]


Article printed from The Big Picture: http://www.ritholtz.com/blog

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

URLs in this post:

[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

Copyright © 2008 The Big Picture. All rights reserved.