Advantages of South Dakota Residency
The biggest is 5 cent coffee from Wall Drug! But there are other benefits as well…
According to recent polls, most of overseas workers and travelers prefer South Dakota as their state of residency. This is in large part due to the benefits which come along with it. Before you apply for a USA address along with state residency, it is important to have a basic understanding about the benefits and disadvantages involved.
The most prominent benefit associated with South Dakota Residency is that you don’t need to pay any state income tax. This is applicable for both personal as well as corporate sectors. Additionally, there is only a 4% sales tax on the RV and vehicle purchases in SD. The state sales tax is also only 4%. Surprisingly, it is extremely easy for a person to become a resident. You just need to go through a simple 3 step process outlined in our Residency PDF.
South Dakota is an ideal state for vehicle enthusiasts. That’s because you only need to pay a 4% excise tax when you are purchasing a new vehicle. If you traded in your vehicle, you only need to pay the 4% on the trade-in difference. That’s the only tax you will need to pay and there aren’t any other taxes. Once you purchase a new vehicle, you just need to make a reasonable payment in order to get it registered. No state vehicle inspection is needed for the people who have become residents of South Dakota. Since there is no state income tax, you will get the opportunity to save a considerable amount of money per month. The vehicle insurance premiums that you can find in South Dakota are much lower when compared to other states of the country. As you can see, all these factors can help you save a lot of money, which you are spending when you live in other states of the country. Therefore, it’s definitely worth to give it a try and become a resident of South Dakota.
If you want to become a resident of South Dakota, you will need to select a mail forwarding service. This can be considered the first step, which you will need to take in order to become a resident in South Dakota. In addition, you will need to obtain your driver’s license in South Dakota and register the vehicle within the state. The time you spend in order to get these things done is totally worth when compared to all the benefits that you can experience as a result of South Dakota residency.