S.D. panel approves refunds of state sales tax to two business expansions that bought equipment

Capitol News Bureau

PIERRE, S.D. (KELO) — A Union County manufacturer of agricultural implements and a Davison County livestock producer received approval Wednesday for partial refunds of South Dakota sales and use taxes they paid for some new equipment.

The state Board of Economic Development granted a reinvestment payment to FIMCO Inc. up to $45,000 but not to exceed 50% of sales and use tax.

The North Sioux City-based company describes itself as the nation’s largest maker of lawn and garden sprayers.

The board also made a South Dakota Jobs grant up to $24,883, but not to exceed the sales and use tax that Matt Storm paid for equipment at a concentrated-animal feeding operation.

The Legislature approved the reinvestment program as part of a broader Building South Dakota package in 2013 that then-Governor Dennis Daugaard signed into law.

Board members made the decisions Wednesday without public discussion. They previously spent about 30 minutes in closed-door session. That practice is allowed under South Dakota’s public meeting laws.

The board turned down a reinvestment-payment application from Day County Wind LLC. The amount wasn’t listed on the agenda.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Continuing The Conversation
See Full Weather Forecast

Trending Stories

Don't Miss!

More Don't Miss