South Dakota

SD inheritance tax repealed by voters effective July 1, 2001; no estate tax

“South Dakota does not have an inheritance tax. The voters of South Dakota repealed the state inheritance tax effective July 1, 2001.There is also no estate tax.”

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South Dakota imposes no personal income tax; capital gains are not taxed

“South Dakota is one of a few states that does not impose a personal income tax. There is no individual income tax in South Dakota.”

South Dakota imposes no personal income tax; capital gains are not taxed

“South Dakota is one of a few states that does not impose a personal income tax. There is no individual income tax in South Dakota.”

South Dakota imposes no personal income tax; capital gains are not taxed

“South Dakota is one of a few states that does not impose a personal income tax. There is no individual income tax in South Dakota.”

South Dakota imposes no personal income tax; capital gains are not taxed

“South Dakota is one of a few states that does not impose a personal income tax. There is no individual income tax in South Dakota.”

South Dakota imposes no personal income tax; capital gains are not taxed

“South Dakota is one of a few states that does not impose a personal income tax. There is no individual income tax in South Dakota.”

South Dakota imposes no personal income tax; capital gains are not taxed

“South Dakota is one of a few states that does not impose a personal income tax. There is no individual income tax in South Dakota.”

South Dakota imposes no personal income tax; capital gains are not taxed

“South Dakota is one of a few states that does not impose a personal income tax. There is no individual income tax in South Dakota.”

South Dakota elective community property: SDCL §§55-17-1 to 55-17-13 allows married couples to elect CP treatment via a qualifying trust

“This publication doesn't address the federal tax treatment of income or property subject to the 'community property' election under Alaska, Tennessee, and South Dakota state laws.”

Note: Primary statute: SDCL §§55-17-1 to 55-17-13 (South Dakota Community Property Trust Act, enacted 2016). Married couples may elect CP treatment for assets held in a qualifying SD trust. Double step-up benefit (IRC §1014(b)(6)) is legally arguable but no IRS ruling has confirmed it. IRS Pub. 555 (December 2024) confirms the election mechanism exists.