SB96

South Dakota SB96 authorizes counties to impose a gross receipts tax to reduce owner-occupied property taxes.

South Dakota SB96 allows counties to impose a gross receipts tax on sales of tangible personal property, electronic products, and services. The tax rate cannot exceed one-half percent and must conform to the state sales and use tax. All proceeds from the tax must be deposited into a property tax reduction fund, used to credit against the county property tax levy on owner-occupied property. The tax must be listed separately on contracts and bills for public and private entities. The Department of Revenue administers the tax, prescribing forms and rules for returns, assessment, and collection.