Taxes & Incentives
South Dakota is business friendly when it comes to tax climate. South Dakota ranks 2nd in the nation on the Tax Foundation’s 2022 State Business Tax Index. With no corporate or personal income tax, no inventory tax, no inheritance tax, no personal property tax, and low sales tax, you can´t get much friendlier than that. Businesses also benefit from affordable property and unemployment insurance taxes.
See how South Dakota compares to other states in the region
|South Dakota||Iowa||Minnesota||Nebraska||North Dakota||Wyoming|
|Individual Income Tax||0.0%||8.53%||9.85%||6.84%||2.9%||0.0%|
|Corporate Income Tax||0.0%||9.80%||9.8%||7.81%||4.31%||0.0%|