South Dakota has worked to develop a tax and regulatory environment designed to encourage corporate and small business development through a comprehensive approach to minimizing tax and government regulatory issues.
The state offers businesses and individuals:
-No corporate income tax,
-No personal income tax,
-No personal property tax,
-No business inventory tax, and
-No inheritance tax.
Partly because of this enterprise-friendly environment, the state is home to a strong cadre of financial services companies.
South Dakota’s business and financial services cluster has added more than 9,000 jobs showing 24% growth since 2002.