Tax Climate

Why has Spearfish become such a hotbed of activity? Simple!!! It's been accomplished by cutting edge competitiveness that gets to the business bone - a taxation policy built around the word "NO". Imagine a place where you can start a business, hire some of the hardest working people in America, and together make money and keep it - rather than hand it over to the government. Spearfish businesses and residents enjoy:

  • No corporate income tax
  • No personal income tax
  • No personal property tax
  • No business inventory tax
  • No inheritance tax

The following briefly reviews the most common business taxes which are levied in South Dakota.

Rankings

We know South Dakota is a great place to live, work and run a business. But you don’t have to take our word for it! Check out South Dakota’s rankings. We are consistently among the top, according to institutions like the Tax Foundation, the Small Business & Entrepreneurship Council, CNBC, among others!

South Dakota Business Rankings
  Rank Year Source
America's Top State for Business 1 2013 CNBC News
State Business Tax Climate Index 2 2013 Small Business & Entrepreneurship Council
US Innovation/Entrepreneurial Growth 1 2013 Fast Company
Personal Income Growth 1 2013 US Bureau of Economic Analysis
Top States for Credit 3 2012 Cardrating.com
Best Run State 1 2012 Barron's
State Business Tax Climate  2 2012 Tax Foundation