Tax Free Exchange Package - South Dakota 2025

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  1. Click ‘Get Form’ to open the Tax Free Exchange Package in the editor.
  2. Begin with the Exchange Agreement. Fill in the names of the parties involved and specify the property details. This establishes your intent for a tax-free exchange.
  3. Next, proceed to the Exchange Addendum. Here, amend any existing contracts by entering relevant information about assignable rights and cooperation terms.
  4. Complete the Certification Of No Info Reporting On Sale Of Exchange by indicating whether reporting is necessary for IRS purposes.
  5. For Like-Kind Exchanges, provide details of each business or investment property being exchanged, ensuring compliance with IRS regulations.
  6. Finally, fill out the Sale of Business Property form to report any gains or losses from your transactions accurately.

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South Dakota does not have an individual income tax. South Dakota also does not have a corporate income tax. South Dakota has a 4.20 percent state sales tax rate and an average combined state and local sales tax rate of 6.11 percent.
Since most sales in South Dakota are taxable, shipping and handling charges are generally taxable. However, if the sale is exempt, shipping and handling charges are also exempt.
Examples of services that are exempt from sales tax in South Dakota include: Health services. Educational services. Social services.
1031 Tax-Free Exchange requirements include: Qualified Intermediary (QI) The IRS requires that you involve a QI to prepare and handle all legal documents for your 1031 exchange. Reinvestment Property. Purchase Business Property. Property Use. 45 Day Identification Period. 180 Days to Completion.
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