State Taxes

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Taxes on Business Income in South Dakota

Apr 25, 2012, 20:00 PM
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.
South Dakota, franchise, tax, taxes, corporation, corporations, income, business
Fact checked date : Feb 13, 2013, 02:00 AM

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.

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