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South Dakota
Corporate Name Endings
- The name must
contain the word "Corporation," "Company," "Incorporated," "Limited,"
or an abbreviation thereof. It may not be the same as, or descriptively
similar to, the name of any domestic or qualified foreign corporation,
reserved or registered name, or any limited partnership, unless consent
is obtained. The name must not imply it is organized for any purpose
other than that stated in the articles of incorporation. The name may
not be the same as, or deceptively similar to, a name in use by any
other domestic corporation or authorized foreign corporation in South
Dakota.
Corporation Requirements
- Director Information
- Minimum Number - One or more.
- Residence Requirements - No provision.
- Age Requirements
- Directors must be a natural person at least 18 years of age.
- Directors are
required to be listed in the articles of incorporation.
- Officer Information
- Officers are
not required to be listed in the articles of incorporation.
- Stock Information
- An increase
in shares may cause an increase in initial filing fees.
- Corporate Records
- A stock transfer
ledger must be kept at the principal corporate office.
Taxes and Fees
- Annual Statements
- An annual
report is due to the Secretary of State by the first day of the
second month following the anniversary month of the corporation
each year. The filing fee is $30.
- Income Tax Rate
- There is no income tax in South Dakota.
- S Corporation
- S Corporation
status is recognized by the State of South Dakota. A separate state
election from the federal election is not required; however, South
Dakota imposes neither a corporate income tax nor a personal income
tax.
- License Requirements
- South Dakota
requires most businesses to obtain a license and pay a fee if operating
in the state. Please check with the state to make sure your business
is complying with the license requirements for your particular profession.
For more information on taxes, visit
http://www.state.sd.us/revenue/revenue.html.
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