Taxes
‘You get what you pay for’ with government services
The scene was a District 7 legislative cracker barrel in Brookings, circa 2011 or thereabouts. The lawmakers on hand were two Republicans, Sen. Larry Tidemann and Rep. Scott Munsterman, and one Democrat, Rep. Spencer Hawley. Near the end of the allotted time for the cracker barrel, Tidemann and Munsterman remained seated but they were taking […]
Public defender recommendation won’t provide relief to cash-strapped counties, legislator says
A task force studying costly legal services recommended a state public defender’s office last month to ease the burden on counties when defendants can’t afford a lawyer. But Sen. Jim Mehlhaff, R-Pierre, a member of the task force, told legislators during a separate study committee meeting on county funding issues Wednesday in Pierre that the […]
SD has lowest per capita tax burden in the region; highest sales tax burden, report says
South Dakota residents bear the lowest tax burden per capita in the region, according to a report shared with lawmakers Monday. But residents also bear the region’s heaviest sales tax burden. The Legislative Research Council, which provides legal and fiscal analysis for lawmakers, shared the report with the South Dakota Legislature’s Executive Board during a […]
Impact of landmark sales tax case difficult to calculate five years later
South Dakota has pulled in more than $416 million in sales tax revenue from “remote sellers” since winning a case in the U.S. Supreme Court over the right to collect it. That figure, however, does not represent the financial impact of South Dakota vs. Wayfair, which five years ago paved the way for states all […]
South Dakota’s ‘tax holiday’ may be shorter than expected
Recently a news release from Gov. Kristi Noem heralded a “tax holiday” that started on July 1. On that date, the state sales tax dipped from 4.5% to 4.2%. If that doesn’t sound like a big savings, that’s because it’s not. At the new rate, spend $100 and you’ll save 30 cents on your sales […]
Checks are in the mail to more than 14,000 South Dakotans for TurboTax settlement
More than 14,000 South Dakotans will soon get a check in the mail for their share of a multi-state settlement with Intuit, the owner of the TurboTax online tax preparation service. Eligible South Dakotans are expected to receive about $30 apiece. The state’s total share of the settlement is $444,456.88. The total, nationwide $141 million […]
IRS slated to hire thousands of workers, boost audits of wealthy taxpayers
WASHINGTON — The Internal Revenue Service on Thursday detailed its plan to spend $80 billion in additional funding that Democrats approved last year as part of their climate change and health care package. The plan says the agency will boost tax enforcement by increasing its “focus on segments of taxpayers with complex issues and complex […]
Congressional Roundup: Thune proposes permanent estate tax repeal
EDITOR’S NOTE: This is the latest installment in a series of periodic updates on the activities of South Dakota’s congressional delegation. — Sen. John Thune, R-South Dakota, introduced legislation last week to repeal the federal estate tax, which he calls the “death tax.” The bill is supported by 40 Republican cosponsors, but no Democrats. The estate tax […]
Open space is at the mercy of development and tax policy in the Black Hills
We’re all lucky to live in the Black Hills for its outdoor beauty. Those who enjoy driving through the Hills may not realize that in many cases the idyllic meadows, timber stands, and meandering streams on either side of the road are private land, very often designated as agricultural. Tree farms, or family owned and […]
Noem signs temporary tax reduction into law, vows to fight for permanent tax cut
After weeks of veto threats, Gov. Kristi Noem signed what some have called the “largest tax cut in state history” into law Tuesday. The move reduces the state sales tax from 4.5% to 4.2%, cutting an estimated $104 million from state revenues in the first year of implementation. But the tax cut has a sunset […]
Noem signs $7.4 billion budget despite previous threats
Gov. Kristi Noem signed the state’s fiscal year 2024 budget into law Monday, providing for increased funding to the “Big Three” state obligations and 100% tuition coverage for National Guard members, among other funding decisions. Noem had made veiled threats in recent weeks to veto the budget because legislators chose to pursue a different tax […]
Noem’s next move will reveal her level of tax-cut commitment
Will she or won’t she? After she signed the budget bill on Monday, that’s what South Dakota lawmakers have to be asking themselves right now as they wonder whether Gov. Kristi Noem will veto the state sales tax reduction they endorsed. At the end of the legislative session, lawmakers compromised on a state sales tax […]