While South Dakota’s tax climate is impressive, there are a few taxes and costs.

Here’s a brief overview of the most common business taxes and costs in Sturgis/Meade County.

Sales & Use Tax

SD State:	4%
Sturgis City:	2%
Real Property Tax
Meade Co.	0

(For five years on new commercial construction , or renovations, valued over $30,000.)

Real property taxes are determined by taking the local mill levy (Sturgis is 2.664) and applying it to 85% of the property’s market value.

Personal Property Tax:	None
Personal Income Tax:	None
Business Inventory Tax:	None
Corporate Income Tax:	None
Inheritance Tax:	None
Local Occupation Tax:	None
Local Wage Tax:	None
State Property Tax:	None

Unemployment Insurance
South Dakota has the 3rd lowest unemployment rate in the nation.  For new employers, the rate is 1.75% the first year. Years two and three will not be increased, and may be reduced to 1.55% if the employer maintains a positive account balance. Thereafter, the rate is based on experience.

Workers Compensation
A 2009 study shows South Dakota ranking 9th in the nation for net insurance costs.  The average manufacturing cost in South Dakota is $2.87 per $100.  The national average for manufacturers is $3.71 per $100.

For more information on taxes, please contact SEDC at 605-347-4906 or info@sturgisdevelopment.com