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Pandora papers reveal South Dakota's role as $367bn tax haven

Quicklink Submitted By molly cruz 7 comments

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South Dakota is sheltering billions of dollars in wealth, some linked to individuals and companies accused of financial crimes or serious wrongdoing, according to documents in the Pandora papers.

The files suggest the US midwestern state now rivals Switzerland, Panama, the Cayman Islands and other famous tax havens as a premier venue for the international rich seeking to protect their assets from local taxes or the authorities.

Wealthy foreign individuals and their families are moving millions of dollars to South Dakota trust funds, which enjoy some of the world’s most powerful legal protections from taxes, creditors and prying eyes.

Read the rest of the story HERE:

At www.theguardian.com

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Born in Long Island public school year in Sweden as exchange student, went to Harvard one year, Cooper Union in NYC as Art student. Have two children, one of whom is rock mogul, the other has three daughters, one of whom has two daughters, making me (more...)

Related Topic(s): Assets; Financial; International; State; Taxes, Add Tags

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