Offshore tax havens cost Minnesota $2 billion a year, report says

  • Article by: Jennifer Bjorhus , Star Tribune
  • Updated: February 5, 2013 - 11:17 PM

A new analysis estimates the state ranks behind only five others in the amount of revenue lost because of tax-avoidance strategies.

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gandalf48Feb. 5, 13 2:12 PM

This report is referring to guys like Dayton who keeps his trust fund out of state to avoid Minnesota taxes, right?

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infowarsFeb. 5, 13 2:20 PM

Start with Mark Dayton. The Dayton family trust is located in tax free South Dakota. Mark gets $180K/yr from his family trust and pays 0% income tax.

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vagagrabberFeb. 5, 13 2:22 PM

While it’s widely known that U.S. corporations take advantage of loopholes to legally reduce their taxes it is generally suppressed by the Minnesota media that Govenor Dayton has stashed his family fortune in South Dakota to avoid taxes.

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mktagrrlFeb. 5, 13 2:23 PM

Isn't Minnesota's worst kept secret that its governer keeps his money 'off-shore' in tax-free South Dakota?

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vagagrabberFeb. 5, 13 2:24 PM

What about the impact of fraudlently documented foreigners working in America that don't pay any income taxes?

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sharkysharkFeb. 5, 13 2:29 PM

I guess a few details about who or what the story was referring to (besides the Governor's well known trust fund) is too much to ask.

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stjohnsonFeb. 5, 13 2:34 PM

Now we will hear cries from the left that these need to be closed, much like Romney proposed during the campaign, when the left hated him.

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i35splitFeb. 5, 13 2:35 PM

There is a difference between tax evasion and tax avoidence. I commend those who are able to avoid taxes. Dayton's current tax proposal will only make those high net worth individuals more inclined to avoid taxes. There is a reason why my multi-millionare boss moved residency to Florida several years ago and why the corporate aircraft also moved out of Minnesota

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felsiteFeb. 5, 13 2:46 PM

Sincerely, the state is losing out on $2B and you think it's all because of Dayton's trust fund. Get a grip.

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falcon1681Feb. 5, 13 2:48 PM

gandalf48 - This report is referring to guys like Dayton who keeps his trust fund out of state to avoid Minnesota taxes, right? ------ Nope. Dayton pays Minnesota tax rates on his trust fund. Your theory has been debunked in all but the most twisted of right wing media outlets.

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