Summerset
South Dakota
A Great Place to Call Home

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Business Climate

Business Climate

According to CNN’s annual rankings, South Dakota is No. 1 for business, due in large part to these competitive advantages:

Taxes                                                                                 Sales Tax

No Corporate Income Tax                                                      State 4%

No Personal Property Tax                                                      City 2%

No Personal Income Tax                                                        Tourism 1%

No Business Inventory Tax

No Inheritance Tax

Unemployment Insurance

South Dakota average unemployment insurance rate is 1%-the seventh lowest in the nation.

For new employers the rate is 1.75% for the first year’s operation and 1.55% for the second and third years if the account balance is positive.  Thereafter the rate is based on the company’s experience.