{"id":2344,"date":"2021-09-07T19:20:04","date_gmt":"2021-09-07T19:20:04","guid":{"rendered":"https:\/\/thefranchisecourier.com\/?p=2344"},"modified":"2021-10-12T21:00:46","modified_gmt":"2021-10-12T21:00:46","slug":"south-dakota-franchise-registration","status":"publish","type":"post","link":"https:\/\/thefranchisecourier.com\/south-dakota-franchise-registration\/","title":{"rendered":"South Dakota Franchise Registration"},"content":{"rendered":"
If you are looking for a place to start or relocate your business, South Dakota needs to be at the top of your list of options. The state is considered one of the best places to do business because of its limited taxes, reasonable regulations, and balanced budget, which enable companies to reach their full potential. South Dakota imposes no individual and corporate income tax, business inventory tax, and personal property tax, providing businesses with the freedom to reinvest in their continued growth. In addition, unlike most business communities, South Dakota can break down barriers to decision-making and leadership by putting collaboration first.<\/p>\n
Before offering or selling a franchise, South Dakota is a franchise filing state, where you are required to file a notice with a copy of your Franchise Disclosure Document with the Division of Insurance and Securities Regulation of South Dakota Department of Labor and Regulation.<\/a> The state differs from other franchise registration states; South Dakota does not assign an examiner to review your FDD or registration process. However, franchisors file a \u201cNotice Filing\u201d with the state before offering or selling a franchise. The state\u2019s initial filing fee is $250 and an annual renewal fee of $150, which should be renewed every year.<\/p>\n South Dakota has enacted extensive franchise laws and regulations because it is a franchise filing state. All franchisors are therefore required to include a copy of their Franchise Disclosure Documents when filing a notice. Since South Dakota does not have to register or review your FDD, you need to certify that all the information in your FDD is accurate. Once you receive a receipt from the director, you should confirm its effectiveness before offering or selling franchises in the state.<\/p>\n