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Taxes in Aberdeen, SD
In Aberdeen, South Dakota, the local sales tax rate is 2%. This is in addition to the state sales tax rate, which is set at 4.5%. Furthermore, Brown County, where Aberdeen is located, imposes an additional sales tax rate of 1%, bringing the total sales tax rate in Aberdeen to 7.5%.
For businesses operating in Aberdeen, South Dakota, the corporate income tax rate is 0%, as South Dakota is one of the few states that does not levy a corporate income tax. However, businesses are subject to a gross receipts tax, also known as the state sales and use tax, which is set at 4.5%.
Property taxes in Aberdeen, South Dakota, vary depending on the type of property. Commercial property is taxed at a rate of 2.6% of its assessed value, while industrial property is taxed at a rate of 2.25%. Personal property, which includes items like vehicles and boats, is generally exempt from property tax in South Dakota, but certain types of personal property may be taxed at a rate of 1.5%.
More comprehensive tax data for Aberdeen is coming soon!
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Business and Tax Incentives in Aberdeen, SD
Aberdeen offers a variety of economic incentives to help businesses at the local, state, and federal level.
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Reviews
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FAQs about Aberdeen, SD
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