SIOUX FALLS, S.D. (KELO AM) - When it comes to business tax costs, South Dakota is one of the best across the board according to the Tax Foundation.
Analyst Jared Walczak says the new study considered the tax bill for seven mature model firms.
Walczak says South Dakota ranks in the top eight nationwide in six of the seven model firms. He says only in the distribution center model does South Dakota come in at the 19th lowest business tax bill.
Walczak says South Dakota’s best business feature is a lack of a corporate income tax.
He says businesses in South Dakota face different effective tax rates depending on their industry and how long they've been located in the state.