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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 | 5 Comments
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 
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:
 Image: http://www.bloomberg.com/image/i_Vq7iWUkboU.png
 Bloomberg: http://www.bloomberg.com/infographics/2013-12-27/billionaires-find-on-shore-tax-haven-in-south-dakota.html
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