South Dakota DOR Publishes Guide on New County Gross Receipts Tax Implementation

The South Dakota Department of Revenue (DOR) has published a tax guide for county officials explaining the implementation of a new county gross receipts tax authorized by Senate Bill 96. The legislation allows counties to impose a local gross receipts tax up to 0.5 percent on tangible personal property, electronically transferred products, and services, with revenues required to be deposited into a property tax reduction fund for owner-occupied property tax relief. Counties may implement this tax with effective dates of January 1 or July 1, provided they give the DOR at least 90 days’ advance notice. [S.D. Dep’t of Revenue, ...