South Dakota Annual Report (Domestic LLC)
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How to fill out South Dakota Annual Report (Domestic LLC)?
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Along with no state income tax, South Dakota also has a 0% corporate tax rate, making it a great place to start an LLC that is taxed as a corporation. Advantages of South Dakota: No state income tax. No corporate tax rate (for LLCs treated as a corporation)
The South Dakota LLC filing fee is $150, with an additional cost of $15 if you choose to file via a paper form. You only need to file your Articles of Organization once, however all LLCs in South Dakota must file an annual report once a year to remain compliant with the Secretary of State.
Why do companies incorporate in South Dakota? Having a South Dakota LLC or corporation will limit liability to the company owners. In addition, there may be tax advantages to structuring your business as an LLC or corporation.
South Dakota doesn't tax personal income, capital gains, or corporate income. Crime rates are low, and energy costs are relatively inexpensive. Among South Dakota's many attractive qualities, the state's reasonable regulations and its balanced budget make South Dakota an attractive start-up proposition.
The South Dakota LLC filing fee is $150, with an additional cost of $15 if you choose to file via a paper form. You only need to file your Articles of Organization once, however all LLCs in South Dakota must file an annual report once a year to remain compliant with the Secretary of State.
Business Corporations - Domestic & Foreign ServiceFeeAnnual ReportFiled Electronically online$50Filed via Paper (includes paper filing fee)$65Reinstatement of Domestic LLP only (plus delinquent reports and fees)$125 + fees114 more rows
Benefits of Opening a Business in South Dakota At the state level, there's no corporate income tax, personal income tax, personal property tax, business inventory tax, or inheritance or estate taxes. Even without the tax advantages, doing business in South Dakota is especially affordable.
Along with no state income tax, South Dakota also has a 0% corporate tax rate, making it a great place to start an LLC that is taxed as a corporation. Advantages of South Dakota: No state income tax. No corporate tax rate (for LLCs treated as a corporation)