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Below is a snapshot of key features of South Dakota's tax system. (Scroll Down)
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State & Local Revenue (FY08)
- General Revenue, Own-Source (GROS): $4 billion
- General Revenue as a Share of Income: 13.2%
- Tax Revenue: $2.5 billion
- Tax Revenue as Share of income: 8.3%
- Personal Income Tax (Share of Tax Revenue): 0% (51 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 2.8% (39 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 54.5% (4 out of 51)
- Property Tax (Share of Tax Revenue): 34.3% (12 out of 51)
- Other Taxes (Share of Tax Revenue): .8% (45 out of 51)
Personal Income Tax Features (2011)
- Range of Tax Rates: N/A
- Standard Deduction: N/A
- Personal Exemption: N/A
- Dependent Exemption: N/A
- Earned Income Tax Credit (EITC): None
- No broad based personal income tax
Corporate Income Tax Features (2011)
- Range of Tax Rates: N/A
- Income Level at Which Top Rate Applies: N/A
- Combined Reporting: N/A
- Apportionment Factor (Payroll): N/A
- Apportionment Factor (Property): N/A
- Apportionment Factor (Sales): N/A
Sales Tax Features (2011)
- State Sales Tax Rate: 4.00%
- Average Local Sales Tax Rate: 1.50%
- Average Combined State & Local Sales Tax Rate: 5.50%
- State Sales Tax Treatment of Groceries: Taxed at regular rate, minor offsetting credit/rebate is available
- Local Sales Tax Treatment of Groceries: Taxed
- Number of Services Taxed: 146 out of 168 surveyed
- Streamlined Sales Tax Membership: Full
Property Tax Features (2011)
- Utilizes split rate system.
Other Tax & Revenue Features (2011)
- Gasoline Tax Rate (per gallon): $0.24
- Diesel Tax Rate (per gallon): $0.24
- Cigarette Tax Rate (per pack): $1.53
- Estate or Inheritance Tax: No
- Net Lottery Sales Per Capita: $733
Tax Policy Oversight
- Tax Expenditure Report: None
- Tax Incidence Analysis Capability: None
Last Updated August 25, 2011
Sources & Glossary
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