South Dakota

2024 South Dakota State Tax Deadlines

If you are a resident or have been involved in significant business operations within South Dakota, then you might be curious about state tax requirements. However, it's important to note that South Dakota is one of the few states that does not levy individual income taxes. This means that residents and those conducting significant business operations in South Dakota are not required to file an individual state income tax return. This simplifies tax season for many individuals and businesses in the state.

C Corporation, S Corporation, Partnership Tax Deadline for South Dakota 2024

South Dakota does not impose a state income tax on individuals, which extends to the treatment of businesses as well. Specifically, there is no state corporate income tax for C Corporations. Similarly, Pass-Through Entities like S Corporations, Partnerships, and LLCs are not subject to a state-level income tax that affects their income passed through to individuals.

However, businesses in South Dakota may still need to be aware of other types of tax obligations, such as sales tax, use tax, and property tax, among others. It's important for businesses to consult with a tax professional or the South Dakota Department of Revenue to understand their specific tax obligations.

Individual Tax Deadline for South Dakota 2024

The State of South Dakota currently does not have an Individual Income Tax.

Estates Tax Deadline for South Dakota 2024

South Dakota Estate Tax filings are not required.

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The material discussed on this page is meant for general illustration and/or informational purposes only and is not to be construed as investment, tax, or legal advice. You must exercise your own independent professional judgment, recognizing that advice should not be based on unreasonable factual or legal assumptions or unreasonably rely upon representations of the client or others. Further, any advice you provide in connection with tax return preparation must comply in full with the requirements of IRS Circular 230.

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2023 South Dakota State Tax Deadlines

2022 South Dakota State Tax Deadlines

Tax positions for businesses and individuals

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Home office

Home office deduction lets remote workers deduct expenses like rent and utilities for business use.

Meal expenses

Business can typically deduct 50% of meals associated with doing business with some cases allowing up to 100% deduction.

Travel expenses

Businesses can deduct necessary travel expenses, like airfare and lodging, directly related to operations for tax savings.

Vehicle expenses

Vehicle tax deduction allows deduction of business vehicle expenses, using a per-mile rate or actual costs, from taxable income.

Late S election

A Late S Election lets a corporation request IRS S corp status post-deadline.

Late C election

A Late C Election is a request to the IRS for C corporation status after the deadline.

Depreciation

Business can typically deduct 50% of meals associated with doing business with some cases allowing up to 100% deduction.

R&D tax credit

Fuel your venture's growth and innovation with the R&D tax credit. Not just for tech firms or big corporations.

Clean vehicle

Businesses and Individuals can receive a tax credit for purchasing new eco-friendly vehicles. Individuals may also qualify on used eco-friendly vehicles

Real estate professional

Real Estate Professional Status allows major working hours in real property businesses to deduct rental losses against other income.

Augusta rule

The Augusta Rule lets homeowners rent their property tax-free for up to 14 days a year without reporting the income.