PIERRE, (KCCR) — The Joint Committee on Appropriations of the South Dakota Legislature was updated Thursday on where revenue projections are falling in as Governor Kristi Noem’s fiscal year 2026 budget address is only a few weeks away. Derek Johnson with the Bureau of Finance and Management says South Dakota’s farm economy is a challenge right now…
The current fiscal year is four months old and Johnson says sales and use tax is down from the Legislature’s adopted level…
Johnson says B-F-M staff adjusted sales tax numbers to reflect the reduction in sales taxes passed by the legislature…
Johnson says the estimated state sales tax on farm equipment is down 22-percent and says those trends tend to follow income in the state. Entertainment sales taxes are down around 10-percent indicated families are tightening expenses.
