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Sales Tax Calculator
For Total Sales of $371,000
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$371,000
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Navigating the intricacies of sales tax can be a daunting task for businesses and consumers alike. In South Dakota, understanding the nuances of sales tax is crucial for compliance and financial planning. Whether you're a resident, a business owner, or someone looking to make a purchase in the state, knowing the ins and outs of the South Dakota sales tax system can save you both time and money.
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Table of contents
Sales tax in South Dakota is a consumption tax imposed on the sale of goods and services. It is collected at the point of sale and is typically calculated as a percentage of the purchase price. This tax is a vital source of revenue for the state, funding essential public services and infrastructure. Understanding the specifics of the South Dakota sales tax rate, and how it applies to different transactions, is key for both consumers and businesses.
In South Dakota, not all items are subject to sales tax. Here are some examples of taxable and exempt items:
Calculating sales tax in South Dakota involves applying the state sales tax rate to the purchase price of taxable goods and services. This calculation is straightforward, but businesses can use tools like the South Dakota sales tax calculator or the SD sales tax calculator to ensure accuracy. These tools help in determining the correct amount of tax to collect, especially when dealing with complex transactions or varying tax rates.
As sales tax rules keep evolving, apps like FlyFin make managing sales taxes much easier. FlyFin is revolutionizing the tax world by blending AI technology with the knowledge of CPAs. Whether it’s simple or complex filings, FlyFin delivers accurate tax results 20 times faster and at 5 times lower cost. Best of all, your first sales tax filing with FlyFin is free, so you can concentrate on growing your business while their CPAs handle the tough tax work.
South Dakota does not currently offer sales tax holidays, which are temporary periods when sales tax is not collected on certain items. While some states use these holidays to encourage consumer spending, South Dakota has opted not to implement such measures.
The concept of nexus in South Dakota refers to the requirement for businesses to collect sales tax if they have a physical presence in the state. This can include having a storefront, warehouse, or even employees in South Dakota. Understanding nexus is crucial for businesses operating both in-state and online.
Businesses in South Dakota are required to remit collected sales tax to the state on a regular basis. This is typically done through the South Dakota Department of Revenue's online portal, which streamlines the process and ensures timely payments.
Failing to file sales tax returns on time in South Dakota can result in penalties and interest charges. It's important for businesses to adhere to filing deadlines to avoid these additional costs, which can quickly add up and impact financial health.
The introduction of sales tax in South Dakota dates back several decades, originally implemented as a means to generate revenue for the state. Over the years, the South Dakota sales tax system has evolved, adapting to changing economic conditions and consumer behaviors. Unlike some states, South Dakota does not impose a state income tax, making sales tax a critical component of its revenue strategy.
South Dakota's approach to taxation is unique, with a reliance on sales tax rather than income tax. This policy impacts both residents and businesses, influencing decisions related to spending, saving, and investment. The South Dakota sales tax rate is competitive compared to other states, which can be a factor in attracting businesses and residents.
One of the unique aspects of sales tax collection in South Dakota is its streamlined online system for filing and remitting taxes. This system is designed to be user-friendly, reducing the administrative burden on businesses and ensuring compliance. Additionally, the state provides resources and support for businesses to navigate the complexities of sales tax in South Dakota.
County
Total Sales Tax Rate
Facts and figures about
County, South Dakota
1,741
CPAs across the state
886,667
Residents as of 2022
60,300
People claiming self- employment tax deductions
36,790
S-Corps statewide
20,240
People taking itemized deductions
78,990
People claiming the QBI deduction
😵💫 Smart CPAs are accessible and affordable, but there's only 1 South Dakota CPA for every 300 residents.
😓 19 million taxpayers filed late last year. Smart CPAs can help taxpayers be prepared.
😨 Smart CPAs can help the 30 million Americans who miss tax deductions each year.
😣 Smart CPAs can put an end to the overpaying on taxes that half of Americans do every year.
South Dakota State Income Tax Rates & Brackets for 2023
The following tables represents South Dakota's income tax rates and tax brackets:
SINGLE FILER
Brackets
Rates
n.a
none
MARRIED FILING JOINTLY
Brackets
Rates
n.a
none
Filing Status
Standard Deduction Amt.
Single
n.a.
Couple
#VALUE!
South Dakota State IRS Statistics of Income for 2020
Item
(All amounts are in 1000s of dollars)
Number of returns
Number of single returns
Number of joint returns
Number of head of household returns
Number of individuals
Adjusted gross income (AGI)
Total income: Number
Amount
Salaries and wages in AGI: Number
Amount
Business or profession net income (less loss): Number
Amount
Partnership/S-corp net income (less loss): Number
Amount
Self-employed health insurance deduction: Number
Amount
Student loan interest deduction: Number
Amount
Charitable contributions if took standard deduction: Number
Amount
Total itemized deductions: Number
Amount
State and local income taxes: Number
Amount
State and local general sales taxes: Number
Amount
Qualified business income deduction: Number
Amount
Child and dependent care credit: Number
Amount
Child and other dependent tax credit: Number
Amount
Self-employment tax: Number
Amount
Earned income credit: Number
Amount
Refundable education credit: Number
Amount
Recovery rebate credit: Number
Amount
Total tax liability: Number
Amount
Total additional Medicare tax: Number
Amount
Net investment income tax: Number
Amount
Tax due at time of filing: Number
Amount
Total overpayments: Number
Amount
All returns
443,220
218,250
172,920
43,250
828,690
32,502,736
436,000
33,016,602
358,670
19,678,143
64,270
823,402
36,790
3,286,625
20,730
178,753
41,350
30,820
123,750
32,651
20,240
1,517,028
2,840
61,016
16,070
35,496
78,990
782,731
22,960
13,442
100,460
260,930
60,300
222,920
58,700
126,336
17,910
16,626
74,330
107,764
322,730
4,192,164
7,310
15,035
11,810
71,716
88,040
768,089
339,210
1,186,506
Under $1
14,940
9,720
4,030
870
23,600
0
7,730
0
3,130
96,263
2,610
0
1,950
0
1,040
7,629
370
258
2,660
687
0
0
0
0
0
0
0
0
0
0
0
0
1,870
6,076
1,260
2,065
250
241
6,080
9,079
2,030
6,457
60
107
0
0
1,070
3,210
9,510
28,574
$1 under $10,000
55,840
46,850
4,350
3,990
54,160
274,380
55,830
285,708
42,470
230,771
5,450
14,983
930
0
910
4,169
790
545
5,240
1,201
350
11,031
20
44
280
234
130
26
0
0
20
25
5,110
3,890
15,880
18,333
1,940
1,714
13,320
20,962
6,580
4,294
0
0
0
0
3,170
1,767
45,860
60,385
$10,000 under $25,000
71,180
50,940
9,170
9,670
97,380
1,232,428
71,180
1,256,214
56,430
914,060
8,460
53,502
1,710
421
1,780
7,554
3,040
2,052
11,090
2,733
920
28,107
60
156
770
659
4,790
3,286
710
233
4,980
1,858
7,800
12,736
19,000
55,875
4,060
3,564
15,160
23,530
40,210
33,434
20
10
0
0
6,600
6,903
61,270
159,423
$25,000 under $50,000
108,670
65,120
21,670
18,380
180,850
3,998,098
108,670
4,056,007
94,310
3,216,073
11,670
101,940
3,470
11,631
3,010
16,487
11,850
8,315
22,660
5,672
2,430
71,991
170
461
1,920
2,353
13,200
20,775
3,940
2,255
26,060
36,694
10,250
25,070
21,380
49,414
3,400
2,980
14,510
20,621
88,270
212,667
0
0
0
0
14,200
21,126
93,570
258,870
$50,000 under $75,000
65,460
28,050
28,840
6,800
132,040
4,023,728
65,460
4,086,098
55,070
2,941,276
9,880
109,489
4,150
32,889
2,780
19,442
8,860
6,670
20,700
5,457
2,860
84,625
270
818
2,300
3,309
13,570
36,708
3,590
2,037
19,120
49,919
9,150
27,881
1,170
649
2,100
2,002
8,340
10,754
60,270
289,257
10
20
0
0
14,790
33,639
50,430
146,142
$75,000 under $100,000
44,270
8,990
32,740
2,000
110,330
3,845,458
44,270
3,902,521
37,120
2,684,749
8,170
103,287
4,180
44,145
2,310
18,471
6,820
5,312
18,280
4,926
2,270
72,562
280
1,177
1,830
2,950
12,150
43,071
4,750
2,983
16,500
54,581
7,530
25,775
0
0
1,930
1,895
6,380
7,299
42,900
302,759
10
9
0
0
12,370
37,233
31,770
107,430
$100,000 under $200,000
63,490
6,540
55,250
1,270
176,240
8,446,807
63,490
8,581,100
53,990
5,701,213
12,890
230,263
10,790
262,629
4,620
45,383
9,630
7,668
33,530
9,261
5,200
181,038
790
4,938
4,170
9,035
22,790
143,827
8,280
4,999
27,630
96,169
12,540
61,662
0
0
4,230
4,230
10,380
15,424
63,110
903,045
330
90
130
66
24,970
131,893
38,390
165,344
$200,000 under $500,000
15,240
1,570
13,350
230
42,730
4,370,578
15,240
4,469,725
12,710
2,246,460
3,900
158,120
6,600
620,880
2,870
37,951
0
0
8,120
2,296
4,030
173,148
680
9,320
3,240
9,704
9,290
172,140
1,470
801
6,100
21,623
4,490
41,110
0
0
0
0
160
95
15,230
734,190
4,670
3,602
7,990
9,815
8,600
156,356
6,590
75,444
$500,000 under $1,000,000
2,740
310
2,370
40
7,650
1,869,806
2,740
1,904,249
2,280
761,067
790
51,904
1,870
515,808
880
13,062
0
0
1,050
297
1,350
87,073
290
7,252
1,030
3,457
1,960
76,960
190
115
30
61
1,020
12,121
0
0
0
0
0
0
2,740
438,997
1,490
4,408
2,440
11,740
1,520
90,279
1,220
43,320
$1,000,000 or more
1,390
160
1,180
20
3,710
5,424,206
1,390
5,442,459
1,160
886,211
450
32,625
1,150
1,975,299
530
8,605
0
0
440
121
850
807,453
300
36,850
540
3,795
1,100
285,938
40
19
0
0
530
6,599
0
0
0
0
0
0
1,390
1,267,064
720
6,789
1,250
50,095
760
285,683
620
141,574
Sales Tax in other states
Sales Tax in other Counties of South Dakota
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