The Black Hills of South Dakota are home to America’s most famous “great faces” – those found on Mt. Rushmore National Memorial. We’re also home to many companies that are experiencing “great profits” as a result of the state’s outstanding business climate.
Top-notch telecommunication systems, an available, professional workforce, and unlimited training opportunities are three of the factors prompting people to take a second look at the Black Hills of South Dakota. Here are several more:
South Dakota has:
And the benefits of doing business in South Dakota are even better for companies in the telecommunications industry.
South Dakota has:
The school levy varies depending on the property’s classification. Businesses receive the non-ag. rate specified below.
(.8260 for ag. property)
The above would be the levies that apply to businesses
|School (owner occupied)||10.7729|
|School (non-ag. Z)||9.4832|
South Dakota average unemployment insurance rate is .9% – the sixth lowest in the nation.
Overall state per capita taxes were provided for all 50 states in 2005. South Dakota is the lowest state per capita taxes in the nation.
|State||Per Capita Taxation||Rank|
Source: U.S. Census Bureau, Governments Division
States Ranked by Total Taxes and Per Capita Amount: 2005
There’s also a 2012 analysis conducted by the Tax Foundation showing South Dakota as the 2nd Lowest Taxed State in the nation. Click here for the USA Today story.
South Dakota does not tax business inventories. South Dakota does not impose a state property tax. And, South Dakota has not taxed personal property since 1979. In South Dakota, the only property taxes you pay for are local taxes on real property, land and buildings.
Rapid City, South Dakota
Colorado, Minnesota, Montana, Nebraska, and North Dakota
Qualified taxpayers may pay an alternative tax of 0.5% of gross receipts from sales in or into Colorado
Alternative minimum tax equal to the excess of 5.8% of Minnesota alternative minimum taxable income over the basic tax is imposed. corporations are subject to additional minimum tax ranging from $0 to $5,000 depending on MN property, payroll and sales or receipts and type of corporation.
Taxpayers making a water’s edge election are taxed at 7%. Qualified coporations may elect to pay an alternative tax of 1/2% of gross sales in Montana during the tax year.
|Nebraska||First $50,000 – 5.8%
More than $50,000 – 7.81%
|North Dakota||First $3,000 – 2.6%
Next $5,000 – 4.1%
Next $12,000 – 5.6%
Next $10,000 – 6.4%
Next $30,000 – 7%
Corporations making a water’s-edge election must pay an additional 3.5% tax.
Source: Commerece Clearing House, Inc., Sate Tax Guide, February 2005
Overall state pension funding is provided for all 50 states in 2012. South Dakota has one of the best funded pension systems, largely due to our state’s consistent, strong fiscal management.
Contact us to receive a comparison between your present location and the Black Hills. We’ll show you what doing business in South Dakota can do for your bottom line!