South Dakota Tax Consulting Services
At Dakota Business Tax, LLC we provide State and Local Tax solutions through our Consultation and Advisory services in the areas of South Dakota Sales, Use, and Contractors’ Excise Tax law. We can help you understand your business’s obligations and liabilities.
Avoid overpaying/underpaying
We will help you in understanding what is taxable and the applicable tax rate, along with what is truly exempt from tax to you and your customer.
Avoid being flagged for an Audit
We can provide answers to most, if not all of your tax questions. If the SD Department of Revenue needs to be contacted for clarification, let us contact them on your behalf so your company’s identity is not revealed.
New business in South Dakota
Do not wait until you are audited to find your tax errors.
Accounting/Legal firm assistance
We can also assist firms that do not have a dedicated team of state and local tax specialists and would like a partnered resource.
If you are bidding or working on a realty improvement project in South Dakota, we can help you understand your true tax liabilities within the complex areas of South Dakota contractors’ excise tax law regarding potential tax pitfalls related to:
Contractors' Excise Tax
Contractors' excise tax is a unique tax and is frequently under-reported as it does not follow the same rules as sales taxable transactions, as it is gross receipts tax. We can help you understand your liabilities in this area, along with understanding and utilizing the available Bid Factor that can play an important part in ensuring the proper tax is collected from your customers.
Use Tax
We can help you understand what products or services use tax is due on or not due on, as this is generally the largest area of assessment in most contractor audits.
Fabricated Materials
We also can help you in understanding how to calculate the correct taxes due on materials your company fabricates and installs.
Owner-Furnished Materials
If you have or will be receiving materials, etc. purchased by the project owner to install, we can guide you through on what value that contractors' excise tax is due on or if is due at all. We will also address if there is a use tax liability on these materials, etc., and how much.
Qualified Utility Projects
We can identify which projects are truly qualified utility projects. Since these projects are taxed under a different set of statutes, they are therefore taxed differently.
Subcontractor Work
A subcontractor’s receipts can be subject to tax in some projects, but not in other projects. We can help you with what receipts are taxable and which receipts you should not be reporting as taxable.
Documentation To Retain
We can go through the documentation needed to protect you in case of an audit, such as Prime Contractors’ Exemption Certificates to verify subcontractor work, documentation related to Owner Furnished Materials, etc.
Contact us today about how our State and Local Tax solutions through our Consultation and Advisory Services can help you and your business and answer any questions that you may have.
