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Anybody on the forum have positive comments about being self-employed in South Dakota? Or are you working so hard that you do not have time to be on the computer?
Hi There,
I don't know first hand but South Dakota does market itself as being friendly to business. First hand info is of course the best but I'm sure a few minutes on Google will yield some good information. If you get there soon, I hope to be right behind you!
I don't know first hand but South Dakota does market itself as being friendly to business. First hand info is of course the best but I'm sure a few minutes on Google will yield some good information. If you get there soon, I hope to be right behind you!
Good Luck,
Adam
Same here, I have no first hand info either. I do know that the town I live in generally gives tax breaks to new employers, but I don't know the specifics. I don't know how many people you have to employ, but I believe it's 10 years of no taxes.
Many new businesses enjoy tax breaks and TIFs and they really enjoy the lack of income taxes. I too do not have any firsthand information but I work for a small business owner here in Rapid City and I've never heard him complain.
Beware the taxes. No state income tax sounds good but that really depends on your level of income. If you have a very high income it is great, but for those with a lower income it is not a good thing. Remember, in SD we pay sales tax on almost everything. Clothes are taxed, food in the grocery store, etc. This summer I will be moving to Brandon, but ONLY because everyone in my immediate family lives there now. I currently live in Minneapolis and if you really want to live this far north I would say Minneapolis might be a better option.
Anywhere one goes, they will pay taxes one way or the other and the prior post mentioned valid points. There are tradeoffs with anywhere. But living in South Dakota for middle income/average people is reasonable. One would not be super rich but one would not be overly poor neither.
I would like to add that South Dakota has very low car registration fees for vehicles, even newer vehicles. A couple years ago, I bought a car that is near new and paid around $55 per year for the plates and 3% for the sales tax on the vehicle (purchase price minus trade in value). The car insurance in SD is considerably lower than in Minnesota and 70-80% of the other states. Home prices are lower in South Dakota and more in line with what people make as opposed to Minneapolis and many other parts of the country.
The thing that usually gets me about other states, such as Iowa and Minnesota, that tax more is that their roads are still rough and have a greater problem with welfare dependence to some extent.
Thank you all so much you have given me so much info. I am also an outdoors man and I love the mountains. I am going to look into all your suggestions and if I have any questions I know I can trust of you. Talk to you later.
I do not mind rural towns in effect I prefer them. I like small town living and big city career. I love the outdoors from fishing, hiking, hunting, snowboarding, and camping. So if I can find a place that is rural and I do not mind the travel to get to a big city job. I would love to live in the country in work in the big city.
Is Rapid City area (and surrounding areas) a big touristy area? I have lived in 6 US states and 2 of those states ~~ tourism is a big thing, it was the main staple of the economy. 1 state has millions of people and tourists were not really seen that much, but the other state I lived in, tourists were everywhere, streets were crowded, etc.
Gold panning? I love gold panning! I did this when I visited Alaska and it is so contagious! Does one have to buy a permit to go gold panning? Where are the best spots to pan?
Some states are horrible to small businesses, that is why I asked about taxes and self-employment stuff. One cannot get out of taxes, that is a given! Oh well, that is life, eh?
What is the overall feel of South Dakota to newbies?
What about the motorcylists that come rolling in...are there a lot of problems?
I have lived in small towns/big cities and humid and snow country...so I am flexible. I do loads of research before moving to a new state, but it is so nice to hear the locals thoughts on life/employment/taxes, etc. of the area I am interested in (and others I am sure).
I like to know the real deal, so thanks to all for your personal viewpoint(s).
When people in SD complain about the sales taxes or property taxes being high (the highest is around 6%) I almost laugh out loud. As Chris19 says, other costs, like car registration and such are much lower. I used to live outside of Athens, GA and taxes, insurance, registration, etc were ALL much higher. Heating costs in the winter can be high, but they weren't all that much cheaper in GA.
You both sound like you'd enjoy living in the Black Hills. I've lived on both sides of the state and in most respects, prefer the Hills. That said, family and job have me living north of Sioux Falls and that suits me fine, too. The Black Hills are only about 6 hours away and make a nice "getaway weekend".
As for the motorcyclists, they're mostly "boomers on bikes" and the Sturgis Rally is a great source of tourist revenue. There are still Angels, Banditos and such, but for the most part they keep to themselves.
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Good points..
Oh well, that is life, eh?
