South Dakota DOR Releases Information on Speculative Builders, Excise Tax

The South Dakota Department of Revenue (DOR) April 1 released information on speculative builders and the tax rate applicable to them. The release includes; 1) the 2 percent excise tax imposed on contractors; 2) information on the prime contractor exemption certificate; 3) the definition of spec builders and the criteria to be a spec builder; and 4) examples of the applicability of the excise tax. [S.D. Dep’t of Revenue, Speculative Builders and $100,000 Rule, 04/01/24]

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