LLC fees in South Dakota
Varies
Are LLC Fees Tax Deductible in South Dakota?
Short answer: Yes, as a business expense: South Dakota charges $150 online / $165 paper to form an LLC; ongoing: $55 online / $70 paper annual report. Due by the first day of the anniversary month.
Annual report fees and state LLC taxes are ordinary business expenses (IRC §162). Formation fees are organizational costs: deduct up to $5,000 the first year and amortize the rest over 15 years (IRC §195, §709).
Records to keep: Keep the state filing receipt, proof of payment, and your LLC's formation and annual report confirmations.
LLC fees in South Dakota
Varies
General Business
Yes, as a business expense: South Dakota charges $150 online / $165 paper to form an LLC; ongoing: $55 online / $70 paper annual report. Due by the first day of the anniversary month.
Business justification
Yes, as a business expense: South Dakota charges $150 online / $165 paper to form an LLC; ongoing: $55 online / $70 paper annual report. Due by the first day of the anniversary month. Annual report fees and state LLC taxes are ordinary business expenses (IRC §162). Formation fees are organizational costs: deduct up to $5,000 the first year and amortize the rest over 15 years (IRC §195, §709).
Category
- Tax Write-Off Rules