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South Dakota is often considered one of the most business-friendly states in the nation because of its favorable tax treatment. There is no corporate or individual tax in South Dakota.
Ready to Start a Business in South Dakota? Pick an Entity Type. Name Your Business. File Formation Paperwork. Draft Internal Records. Get South Dakota Business Licenses. Get Business Insurance. Build Your Business Website. File a South Dakota Annual Report.
Registering for a business privilege license is free at the state level, but there are fees at the local level. The cost of South Dakota business licenses at the local level may range from $15 to $1,000, depending on your county and how your business operates.
Best Businesses to Start in South Dakota Ranching is also one of the most profitable businesses, and opportunities to work the land abound. And if you're interested in retail or hospitality, the service industry is the most significant contributor to South Dakota's economy.
Two Ways to Start A New Business in South Dakota Define your business concept. Draft a business plan. Choose a business name. Fund your startup costs. Choose a business structure. Register your business with the South Dakota Secretary of State. Get your business licenses. Set up a business bank account.