Bill > HB1024

This bill amends several sections of South Dakota state law to adjust various fees collected by the Secretary of State for business-related filings and services. The bill modifies fees for a wide range of business documentation processes, including incorporation, annual reports, entity conversions, mergers, dissolutions, and other administrative filings for different types of business entities such as corporations, cooperatives, nonprofit corporations, limited liability companies, and limited liability partnerships. While most fee changes are relatively modest, some notable adjustments include maintaining the $150 fee for articles of incorporation, keeping the $55 annual report fee, and retaining the $750 fee for foreign corporation certificate of authority applications. The bill also specifies how certain portions of these fees will be allocated to the financing statement and annual report filing fee fund, with any funds in excess of $50,000 at the end of each fiscal year reverting to the general fund. These fee adjustments appear to be part of routine administrative updates to ensure that filing fees accurately reflect the costs of processing and maintaining business documentation.

Budget and Finance

https://sdlegislature.gov/#/Session/Bill/25613