Taxes in Mitchell, SD
In Mitchell, South Dakota, the local sales tax rate is 2%, which is added to the state sales tax rate of 4.5%. Additionally, the county sales tax rate for Davison County, where Mitchell is located, is 0%. Therefore, the total sales tax rate in Mitchell, SD is 6.5% when combining local, state, and county rates.
For businesses operating in Mitchell, 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, there is a gross receipts tax, also known as the business tax, which varies depending on the type of business. For most businesses, the gross receipts tax rate is 4.5%.
Property taxes in Mitchell, South Dakota, are also a significant consideration for businesses and individuals. The commercial property tax rate is 1.92% of the assessed value, while the industrial property tax rate is 1.92% as well. Personal property, which includes items like machinery, equipment, and tools, is also taxed at a rate of 1.92% of its assessed value.
More comprehensive tax data for Mitchell is coming soon!