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South Dakota State Taxes

 

South Dakota State Taxes

Staff Reports
by Staff Reports

There is no individual income tax in South Dakota.

South Dakota State Tax ? Sales & Use Tax

The sales/use tax has a rate of 4%. Sales tax applies to the gross receipts of all retail sales, leases, or rentals of tangible personal property and services. The “use tax” (which has the same rate) is imposed on products and services that are used/stored in South Dakota for which SD sales tax has not been paid.

South Dakota State Tax ? Corporate Tax

There is no corporate income tax in South Dakota, although banks are subject to a 6% tax on net income, with a $200 minimum tax per location.

South Dakota State Tax ? Property Tax

Property taxes are enforced by local units of government (including cities, counties, townships, and school districts). Property is taxed according to its true market value, using 3 assessment approaches: the cost approach, the market approach, and the income approach.

South Dakota State Tax Resources

South Dakota Department of Revenue and Regulation: www.state.sd.us/drr2

Index of South Dakota state forms: www.state.sd.us/drr2/drrforms

SD Department of Revenue & Regulation – Business Tax Division: www.state.sd.us/drr2/businesstax

SD Department of Revenue & Regulation – Property Tax Division: www.state.sd.us/drr2/property

“Your Property Taxes” brochure: www.state.sd.us/drr2/booklets/your_property_taxes

SD Department of Revenue & Regulation – Motor Vehicles Division: www.state.sd.us/drr2/motorvehicle

Contact the SD Department of Revenue & Regulation: www.state.sd.us/drr2/contactus