Just How Tax-Friendly is South Dakota?

In some states, 2021 was a big year for state tax reform. Here in South Dakota, Governor Kristi Noem stated in her State of the State Address proposed to legislators some changes of her own.

“South Dakota is already among the most business-friendly states in America. With this action, we will make it even easier to do business here,” said Governor Kristi Noem. “We also guarantee the right of our people to keep and bear arms. It will not cost you a penny to exercise your Second Amendment rights in South Dakota.”

Noem asked for a half percentage point cut in the state sales tax from 4.5% to 4% over the next two years. In February state lawmakers rejected the proposal.

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When you look across the country, seven friendly states in the U.S. do not have a state income tax and South Dakota is one of them. Alaska, Florida, Nevada, Tennessee, Texas, and Wyoming are in that same category.

As a business owner here are some South Dakota tax facts you should know:

No state income tax
No corporate income tax
No personal property tax
No gross receipts tax
No inheritance tax
No estate tax

If you're wondering how long into the year the South Dakota workforce works before they have earned enough money to pay all federal, state, and local taxes for the year, it's April 7. Otherwise, known as Tax Freedom Day.
Source: Tax Foundation.org

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18 Annoying Things that People in the Midwest are Doing

You know those Post-it notes that you used to put up on your mirrors or around your house to remind you of different things. Well, some people in Minnesota, Iowa, and Wisconsin could use a whole pile of those to put up all over their world because they need some refreshers on a few basic things. Most are about driving but there are a few other moments in life that you'll realize annoy you too.