SB86DeadTaxation
revise provisions regarding certain tax rates.
This bill requires South Dakota to automatically reduce certain state tax rates by one-tenth of a percent for every $20 million in additional revenue collected from out-of-state online sellers—but the rates cannot drop below 4 percent. The changes apply to income taxes, sales taxes, and other specific taxes listed in state law, with reductions taking effect each July first as the revenue thresholds are met.