Vermillion is currently targeting companies from the below industries. Expand each industry for more context.
No Industries Found
Vermillion Economic Development Team
No Contacts Found
Taxes in Vermillion, SD
In Vermillion, South Dakota, the local sales tax rate is 2%, while the state sales tax rate is 4.5%. In addition, Clay County, where Vermillion is located, imposes a 0% county sales tax rate. Therefore, the total sales tax rate in Vermillion, SD is 6.5%.
Regarding corporate taxation, South Dakota is one of the few states that does not impose a corporate income tax. This means that corporations operating in Vermillion, SD are not subject to state corporate income tax. Additionally, South Dakota does not have a gross receipts tax, which is a tax on the total gross revenues of a company, regardless of their source.
As for property taxes in Vermillion, SD, they vary based on the type of property. Commercial and industrial property taxes are typically calculated based on the assessed value of the property. South Dakota has a property tax rate of 1.92% for commercial properties. For industrial properties, the tax rate is also based on the assessed value and is approximately 1.92%. Personal property, which includes movable property like vehicles and household goods, is generally not taxed in South Dakota.
More comprehensive tax data for Vermillion is coming soon!
Featured Profiles
Business and Tax Incentives in Vermillion, SD
Vermillion offers a variety of economic incentives to help businesses at the local, state, and federal level.
No incentives found! If you are a local economic developer in Vermillion, claim this profile to add your incentives and attract more employers to your community.
Reviews
Let’s see what local businesses have to say about doing business in Vermillion.
FAQs about Vermillion, SD
No FAQs have been added for Vermillion! If you are an economic developer for the state, claim this profile to add your FAQs.
McKinney offers an inviting landscape for businesses to prosper while enjoying the city's unique blend of heritage and business growth.
Sponsored
Decatur, TX
4.24
(21)
Claimed Profile
Population: 6,557
Median Income: $66,034
This centrally-located north Texas community provides a high quality of life and business-friendly environment, with a skilled workforce, affordable real estate, and strong infrastructure to support corporate operations and growth.
Sponsored
Allen, TX
4.11
(9)
Claimed Profile
Population: 102,778
Median Income: $118,254
This thriving Dallas-Fort Worth suburb offers a robust business climate, access to a highly educated workforce, and a family-friendly community with abundant shopping, dining, and recreational amenities to support corporate success and employee well-being.
Sponsored
Edinburg, TX
Claimed Profile
Population: 98,759
Median Income: $52,773
Strategically situated in the Rio Grande Valley, this fast-growing community provides a pro-business climate, skilled labor pool, and dynamic quality of life to attract corporate investment.
Sponsored
Farmers Branch, TX
4.4
(5)
Claimed Profile
Population: 36,091
Median Income: $77,306
Farmers Branch offers all the perks of being located in a major city while still maintaining a small-town feel. Farmers Branch is home to over 4,000 companies, including 250 corporate headquarters.