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Our iconic attractions include Mount Rushmore National Memorial, Badlands National Park, the Black Hills and the Missouri River. On top of that, we have abundant state parks, lakes and trails. Beyond that, we have some of the nation's best hunting and fishing. It's the complete package.
Some goods are exempt from sales tax under South Dakota law. Examples include gasoline, purchases made with food stamps, and prescription drugs.
The 1% municipal gross receipts tax (MGRT) is in addition to the municipal sales tax. The MGRT can be imposed on alcoholic beverages, eating establishments, lodging accommodations, admissions to places of amusement, athletic, and cultural events.
These are examples of gross receipts tax like a patent, copyright, trademark, franchise, or license in this state. Each sale of property in this state, including royalties from oil, gas, or other mineral interests, is another example of something you must pay tax on.
Nine (9) percent gaming tax on the adjusted gross proceeds of gaming allowed by SDCL 42-7B-28 & 28.1. In addition to other fees imposed, there is also a license stamp fee upon each card game or slot machine located on a licensed premise. The annual fee for this stamp is two thousand dollars.
"Gross receipts." (a) "Gross receipts" mean the total amount of the sale or lease or rental price, as the case may be, of the retail sales of retailers, valued in money, whether received in money or otherwise, without any deduction on account of any of the following: (1) The cost of the property sold.
What are gross receipts taxes and which states levy them? Gross receipts taxes are also taxes on sales, but unlike a general sales tax, the tax is levied on the seller rather than the consumer.
Calculate gross receipts by adding all revenue received within a tax year without subtracting returns, allowances, costs of goods sold, or any other business expenses.