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Bill > HB1327


SD HB1327

Reduce certain gross receipts tax rates and a use tax rate, and to repeal a conditional reduction of certain gross receipts tax rates.


summary

Introduced
02/02/2022
In Committee
02/23/2022
Crossed Over
02/23/2022
Passed
Dead
03/28/2022

Introduced Session

2022 Regular Session

Bill Summary

An Act to reduce certain gross receipts tax rates and a use tax rate, and to repeal a conditional reduction of certain gross receipts tax rates.

AI Summary

This bill reduces certain gross receipts tax rates and a use tax rate in South Dakota. Specifically, it lowers the tax rate from 4.5% to 4.25% on July 1, 2022, and further reduces it to 4% on July 1, 2023. The bill applies these changes to taxes on retail sales, certain services, telecommunications, transportation of passengers, and more. Additionally, the bill repeals a conditional reduction of certain gross receipts tax rates that was previously tied to additional revenue collected from remote seller sales tax obligations.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (36)

Last Action

State Affairs Deferred to the 41st legislative day, Passed, YEAS 8, NAYS 1. (on 02/25/2022)

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