South Dakota

State Account Limit: $350,000
Annual Contribution Limit: $15,000
ABLE To Work Act Contribution: $12,140
Withdrawal Hold Rules: Yes
State Income Tax Deduction: No. No, there is no state income tax for residents of South Dakota.
ABLE Legislation:

HB 1224


Additional Information:

HB 1224 was signed into law on 3/11/2016.  The bill:

  1. Excludes contributions to an account in a qualified ABLE savings program, earnings on the contributions, or distributions from the account for qualified disability expenses from consideration when determining eligibility for State benefit programs.
  2. Authorizes the Investment Council to provide information about ABLE savings programs to residents of South Dakota

Program at a Glance

  • Fee Range
Scroll Up