Must-read: Kara Scannell and Vanessa Houlder: “US Tax Havens–The New Switzerland”

Must-Read: Kara Scannell and Vanessa Houlder: US Tax Havens–The New Switzerland: “In an old discount store hugging a corner in downtown Sioux Falls, South Dakota…

…the heirs to the William Wrigley chewing gum fortune have an office for their family trust. So do the Carlson family, owners of the Radisson hotel chain, and the family of John Nash, the late hedge fund giant. They are among the 40 trust companies sharing an address at 201 South Phillips Avenue, a modest, two-storey white-brick building. Inside, $80bn worth of trust assets are administered…. Assets held in South Dakotan trusts have grown from $32.8bn in 2006 to more than $226bn in 2014…