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

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

    Sales & Use Tax:

    State of SD: 4.5%
    City of Sturgis: 2%

     

    Real Property Tax:

    Meade County:           None*

    *For five years on new commercial construction or renovation valued over $30,000.

    Other real property taxes are determined by taking the local mill levy (Sturgis is 2.6343) 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 insurance 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 recent 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.

    Contact SEDC at 605-347-4906 or info@sturgisdevelopment.com for more information.

    This institution is an equal opportunity provider, employer and lender.