South Dakota Form Instructions 706 2024-2025

South Dakota Form Instructions 706: What You Should Know

Form 565 This form is required if your state allows the use tax to be applied to your bank accounts. Check with your state tax department for more information about the requirements.  The South Dakota State Tax Division administers a tax on the interest on state and federal treasury bills. The tax is a 3.9% tax on gross interest. There are several exemptions from the bank franchise tax. All non-profits, educational institutions and businesses with less than 25,000 in annual assets are exempt. For more specific information regarding the tax, please visit the South Dakota Department of Revenue website.

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