The South Dakota legislature for 2025 is proposing two bills that may affect your business HB 1019 : Eliminate Certain Property Taxes Levied on Owner-Occupied Single-Family Dwellings, and to Increase Certain Gross Receipts Tax Rates and Use Tax Rates. HB 1037 : Repealing the Tax Collection Allowance Credit for Filing Returns and Remitting Taxes Electronically. Dakota Business Tax LLC…
10% Penalty Will be Added to All Assessments for Audits Commencing After July 1, 2020 The state of South Dakota found a way to increase their audit assessments by 10%. That’s by adding a 10% penalty to all assessments for audits that commenced after July 1, 2020. Prior to July 1, 2020, South Dakota only applied a 10% penalty to…
Dakota Business Tax is Here to Help Businesses Stay in Business At Dakota Business Tax LLC, we recently helped a local contractor settle a tax lien with the South Dakota Department of Revenue regarding contractors’ excise taxes for 78% less than what the Department of Revenue was asking him to pay. Some of the back taxes, interest, and…
South Dakota Hiring More Tax Agents to Address Remote Seller and Marketplace Provider Noncompliance South Dakota Dept. of Revenue’s Business Tax Division has received funding for additional sales and use tax Revenue Agents. These new Revenue Agents are to concentrate on unlicensed Remote Sellers and Marketplace Providers not complying with the Wayfair decision and to bring these businesses into…
Reducing South Dakota Sales, Use, and Contractors’ Excise Tax Audit Assessments 64% on Average At Dakota Business Tax LLC d/b/a DBT LLC, we are proud of our audit review successes. As of June 25, 2019, we have been reducing South Dakota audit assessments for those that have engaged us by 64% and over $117,000 on average per audit. Of…
Florida Company’s South Dakota Contractors’ Excise Tax Audit Reduced by over $97,000 Dakota Business Tax LLC was able to save a Florida contractor that engaged us to review their South Dakota contractors’ excise tax audit over $97,000 in South Dakota tax, interest, and penalty. The Auditor is Listing Things They Think Might be Taxable The auditor is listing everything…
Why You Need Tax Audit Assistance Doctor’s Assoc. v. Dept. Of Revenue, 2006 SD 18. Doctor’s Associates Inc. lost its appeal to the South Dakota Supreme Court and had to pay a sales/use tax audit assessment. The original audit assessed was $270,666.70. However, more than likely the final amount paid included additional interest. Unfortunately, based upon this type of…
At Dakota Business Tax LLC d/b/a DBT LLC, we are proud of our audit review successes as shown in our Year-to-Date Stats (Nov 2018). Those that have engaged us to review their South Dakota sales, use, or contractors’ excise tax audits have seen an average of 62% reduction in their assessments, for an average of $109,667 per audit. Whether…
With all the focus on compliance with South Dakota sales tax laws, businesses need to be aware that when you meet the South Dakota criteria below, Remote Sellers and Marketplace Providers need to know South Dakota use tax laws because the state is not just issuing you a Sales tax license, but a Sales and Use Tax license. As…
South Dakota: Remote Sellers and Marketplace Providers In a special legislative session on September 12, 2018, Senate Bills 1 & 2 were passed and signed by the Governor of South Dakota. Remote Sellers: SB 1 On November 1, 2018, remote sellers, even if they do not have a physical presence in South Dakota but meet one or both of…
The South Dakota legislature for 2025 is…
10% Penalty Will be Added to All Assessments…