Taxation of Employee Benefits: South Dakota
Federal law and guidance on this subject should be reviewed together with this section.
Author: Vicki M. Lambert, The Payroll Advisor
Summary
- Contrary to federal law, salary deferrals to cafeteria plans under Internal Revenue Code (IRC) § 125 and employer contributions to IRC § 401(k) plans are taxable in South Dakota. See Salary Deferrals to IRC § 125 Cafeteria Plans and § 401(k) Plans.
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