Coming in third in the nation on The Tax Foundation’s 2019 State Business Tax Climate Index, South Dakota has some of the lowest business taxes in the United States. In fact, it ranks first in both corporate taxes and individual income taxes because it has neither. Forbes ranks the state first in the nation for the overall cost of doing business. US News & World Report notes its outstanding fiscal stability.
Its regulations are business-friendly, too. South Dakota ranks third on the Small Business & Entrepreneurship Council’s 2018 Small Business Policy Index.
The quality of life in South Dakota is high. WalletHub ranks it as one of the least stressed states in the US, and US News & World Report gives it fifth place for quality of life. That translates to better health and well-being for the labor force and for business owners.
South Dakota has numerous advantages in business. FranNet’s local experts know the ins and outs of starting and growing a business in South Dakota, and they’re ready to help you choose a business that’s right for you and right for this outstanding location.