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Year: 2006

Setting the Record Straight on LLCs

Listen to Rick’s column here: Download setting_the_record_straight.mp3 When I read Bill Napoli’s editorial in the October 26 Rapid City Weekly News, I felt compelled to respond. My concern is not with the merits or problems of Amendment D, but with correcting...

Asset Protection–An Unfair Advantage?

Among the responses to my recent columns about creating LLCs to own real estate was one from an elected official who was critical of the strategy. The accusation was that LLCs and corporations are not even “paying their fair share” under the present...

More on LLCs and Amendment D

In last week’s column I talked about using LLCs to mitigate the impact of Amendment D if it should pass. Now it’s time to get more specific about that strategy. Since Amendment D would provide that property is reassessed when it is sold, the basis of this...

A Creative Approach to Property Tax Reform

One of the issues South Dakota voters will be asked to decide this November is Constitutional Amendment D, the latest attempt to reform our property tax system. It would base the assessed value on the purchase price of a piece of property rather than the comparative...

What’s Scarier Than a Heavyweight Boxer?

I recently read an interesting article by Timothy L. O’Brien of The New York Times. It was published on September 18, 2006, in the online edition of the International Herald Tribune under the title, "Fortune’s fools: Why the rich go broke."...