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Tax Break Tracker Individual Entry

Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.

StateSouth Dakota
Effected JurisdictionSouth Dakota
Jurisdiction type: State
Fiscal year ending In2022
Program nameReinvestment Payment Program
Program purpose: Job Creation/Retention
Statutory authority: SDCL 1-16G-56 to 1-16G-68
Abating jurisdiction(s): State of South Dakota
Applicable taxesSales and Use Tax
Method of abatement: Tax Rebate
Provisions for recapture: No recapture provisions as taxes are abated after costs have been incurred or targets have been reached (i.e. performance-based awards).
Gross revenue loss: $25,200,000
Reimbursement / offset: $0
Net revenue loss: $25,200,000
Type of loss: Active
Additional notes on dislosureDuring fiscal year 2022, the State abated $8.0 million of sales and use tax as estimated reimbursement amounts for approved projects that have not met all the reimbursement criteria. The State reimbursed $17.2 million of sales and use tax during fiscal year 2022, all of which was abated in prior fiscal years.
Document sourcehttps://bfm.sd.gov/ACFR/SD_ACFR_2022.PDF#view=fit