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Watertown Economic Development Team
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Taxes in Watertown, SD
The local sales tax rate in Watertown, South Dakota is 2%, while the state sales tax rate stands at 4.5%. Additionally, Codington County, where Watertown is located, does not impose an additional county sales tax, keeping the total sales tax rate in Watertown at 6.5%.
Regarding corporate taxes, South Dakota is one of the few states that does not impose a corporate income tax, which applies to Watertown as well. However, the state does levy a gross receipts tax on certain businesses. The gross receipts tax rate varies depending on the type of business, with most rates ranging from 1.5% to 4.5%.
Property taxes in Watertown, South Dakota, are levied at the local level and vary depending on the type of property. Commercial and industrial properties are typically assessed at a higher rate than personal properties. The tax rate is determined by the assessed value of the property and the local mill levy. However, the exact rates for commercial, industrial, and personal property taxes can vary year to year and are not readily available without specific property details.
More comprehensive tax data for Watertown is coming soon!
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Business and Tax Incentives in Watertown, SD
Watertown 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 Watertown, claim this profile to add your incentives and attract more employers to your community.
Reviews
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FAQs about Watertown, SD
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