BizFilings Logo
800-981-7183

Taxes on Business Income in South Dakota

Filed under State Taxes. Fact checked on February 13, 2013.

Article Tools

South Dakota is an extremely tax-friendly state. Only banks and financial institutions are subject to corporate income tax. And, there is no personal income tax.

The state of South Dakota does not have a general corporate income tax. The only corporations that are subject to income taxes are banks and financial institutions. The rates range from 6 percent on net income less than $400 million to 0.25 percent on income greater than $1.2 billion. The minimum tax is $200 per business location.

Article Tools

blog comments powered by Disqus
Next Article in Tax Center
Rhode Island - Taxes on Business Income

Rhode Island imposes tax on corporations, based upon either taxable net income, capital stock or a minimum rate. If you operate your business as a sole proprietorship or via a pass-through entity, you must report your business income on your personal tax return

Read More »Next Article
Close