UNITED STATES

The more money you make, the more taxes you pay — right? Not necessarily. While the U.S. tax code is structured so that high earners pay a higher tax rate, the ultra-wealthy often take advantage of laws that enable them to lower their effective tax rate. "In general, America's wealthy are different when it comes to tax planning because of the options they may have with categorizing the assets they hold," said Ron Carson, founder and CEO of Carson Group and co-author of "Avalanche: The 9 Principles for Uncovering True Wealth." "Their net worth often presents opportunities when tax planning...

CORPORATE & FIDUCIARY NEWS 2019

What are the key advantages of your jurisdiction in terms of privacy & asset protection for a Chinese HNWI or Family (etc.) looking to succeed their assets to the next generation? Depends on states but South Dakota offers zero state income tax, confidentiality and no FATCA reporting. In terms of cost, how is the cost of a setting up a trust/foundation in your jurisdiction compare to other jurisdictions? If it’s more expensive, what is the additional value that a client receives for this? South Dakota is very reasonable. Trust establishment and renewal fees are flat $3,500 USD per year and...

CORPORATE & FIDUCIARY JURISDICTION 2015

Country:                    United States Region:                      Americas Currency:                  US dollar (USD) (US$) Languages:                English Phone Code:                     +1 Communications:      Very Good Suitable for: Insurance, Shipping, Aviation, Yachting, Trading Goods, Trading Financial, Intellectual Property/Licensing, E-commerce Vehicle Types: Limited companies, public limited companies, sole proprietorships, branches, general partnerships, limited partnerships and limited liability partnerships Capital primary business districts: Dakota, Delaware, Nevada Good Relationships: China, United Kingdom Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria Tax Burden - Business: Moderate Tax Burden - Individual: Moderate Headline tax rates: CIT 15%-39% (qualified personal service corporation 35%),...

CORPORATE & FIDUCIARY JURISDICTION 2015