Senate fails to lift sales tax sunset amid debate about revenues, property tax reform
South Dakota sales tax is scheduled to increase next year following 'tax holiday'
PIERRE – An effort to remove a state sales tax sunset that kicks in next year fell short by the narrowest of votes Tuesday, tying 17-17.
Sen. Chris Karr sought to extend the current rate of 4.2 percent, making it permanent. Currently, the state sales tax is scheduled to revert back to its previous rate of 4.5 percent on June 30, 2027.
Karr, the Senate’s Republican president pro tempore who represents Sioux Falls, said the .3 percentage point difference would save taxpayers about $106 million a year. He argued the state can meet its obligations at 4.2 percent and that the current rate provides stability to voters and small businesses.
Thune touts tax cuts in meeting with South Dakota business leaders
The economic benefits of a massive piece of legislation passed by Congress in July are beginning to ripple through the economy, Sen. John Thune said Monday.
