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South Dakota

The Mount Rushmore state treats businesses well by giving them unparalleled financing options and tax breaks.

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South Dakota has announced they are open for business, and they mean it. The Mount Rushmore state really knows how to treat businesses well, both large and small, by giving them unparalleled financing options and tax breaks.

In fact, South Dakota’s business tax climate is so good (including no corporate income tax, no personal property tax, no personal income tax, no inheritance tax and no business inventory tax) that it’s ranked number two in the United States. The financing options are just as impressive and will help new businesses and franchises focus on growth instead of sweating the small stuff. The many options available to new businesses, which include a job grant program and a microloan express initiative, will help them sustain themselves in their starting phase. The state had committed themselves to keeping taxes low, limiting government regulation, fighting government intrusion, and keeping government open and honest which helps entrepreneurs make a good living to provide for their families. They believe it’s better to avoid the red tape that complicates and slows things down elsewhere. It’s no wonder South Dakota was rated the number one best state for starting a business by CNN Money and the number one business climate in the nation for entrepreneurs by Small Business and Entrepreneurship Council.