State Revenue

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Constitutional amendment to require a supermajority vote fails in SD house

According to the SD Constitution1 it now takes a simple majority of South Dakota voters to change a law or amend the constitution.   South Dakotans can make changes with a ballot measure – referring a law, initiating a new law or amending the constitution.

Senate Joint Resolution 2 (SJR2) … Read more

Reconsideration pending – SD constitutional supermajority amendment initially fails in the house

According to the SD Constitution1 it now takes a simple majority of South Dakota voters to change a law or amend the constitution.   South Dakotans can make changes with a ballot measure – referring a law, initiating a new law or amending the constitution.

Senate Joint Resolution 2 (SJR2) … Read more

SD revenue estimates FY13 & FY14

Estimates show increasing state continuing revenues for the next two budget years with fluctuating one-time revenue amounts

SD is expecting $1.349 billion in general fund revenues in FY13 and $1.328 billion in revenues in FY14.  This does not reflect a decrease in continuing receipts.  In fact continuing receipts (those that … Read more

SJR2 – Should South Dakota amend its constitution to require a supermajority of voters to pass tax-rate changes?

According to the SD Constitution1 it takes a majority of South Dakota voters to change a law or amend the constitution.   They can make changes with a ballot measure – referring a law, initiating a new law or amending the constitution.

Senate Joint Resolution 2 (SJR2) proposes a state … Read more

Should SD repeal the grocery sales tax with a revenue neutral sales tax increase?

  SD HB1154 proposes lowering state sales tax on certain food items and increasing sales tax on other goods and services in a revenue-neutral exchange.

In layman’s terms this means:

  • dropping the state 4% sales tax on grocery food items (except pop and candy)
  •  increasing the state sales tax on all
Read more

Should South Dakota increase real estate transfer fees?

SB 124  a bill to increase the real estate transfer fees and to revise the distribution of the fees  http://legis.state.sd.us/sessions/2013/Bill.aspx?Bill=124

Senate Bill 124 would increase South Dakota’s current real estate transfer fee from 0.1% (or 50 cents of every $500 in real estate value) to 1% (or $5.00 of every … Read more

South Dakota ranks 3rd “most regressive” in state and local taxes

Who Pays?  A distributional anlaysis of tax systems in all 50 states

Like most state tax systems, South Dakota takes a much larger share from middle- and low-income families than from wealthy families. That’s according to the fourth edition of “Who Pays? A Distributional Analysis of the Tax Systems in … Read more

Should South Dakota allow its summer seasonal tax to sunset or make it permanent?

HB1066  continue the current rate of the gross receipts tax imposed on visitor-related businesses

The SD tourism, or seasonal tax, was changed effective July 1 2009 from 1% to 1.5% through June 30, 2013 on certain lodging and amusement services that is imposed for tourism promotion.

House bill 1066 continues … Read more

Should South Dakota increase energy mineral severance taxes?

SB 123  Increase Energy Minerals Severance Tax (raise severed energy minerals tax rates from four and one-half percent to eight percent of their taxable value.)

The South Dakota energy minerals severance tax is a tax imposed on the privilege of severing energy minerals in this state. The tax is imposed Read more

Should South Dakota repeal the contractor’s excise tax?

SB 91  An Act to reduce the rate for the contractor’s excise tax over a period of time and to repeal the contractor’s excise tax in three years.

Currently  South Dakota’s 2% contractors excise tax is projected to generate revenues of $90 million for the state general fund in fiscal Read more

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