10-39-54. Distribution of proceeds.
All taxes, interest and penalties imposed and collected by the secretary of revenue under this chapter shall be distributed as follows:
(1)For persons severing precious metals that were in business in the state prior to January 1, 1981, all revenues collected shall be deposited in the state treasury and credited to the general fund;
(2)For persons permitted on or after January 1, 1981, for the purpose of severing precious metals, eighty percent of the revenues collected shall be deposited in the state treasury and credited to the general fund, while the remaining twenty percent shall be remitted by the secretary of revenue to the treasurer of the county in which the precious metals were severed. When the county has received a total of one million dollars attributable to any person subject to the tax, all future revenues attributable to that person shall be deposited in the state treasury and credited to the general fund. No merger, consolidation or acquisition of a person subject to §§10-39-54 to 10-39-54.4, inclusive, by another such person shall limit the share of revenue due to the county from the person so acquired.
However, any revenues attributed to the severance of precious metals from lands owned or controlled by the State of South Dakota shall be deposited in the common school permanent fund.
Source: SL 1981, ch 95, §13; SL 1988, ch 101, §1; SL 1993, ch 53, §20; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011.
Structure South Dakota Codified Laws
Chapter 39 - Mineral Severance Tax
Section 10-39-42 - Definitions.
Section 10-39-43 - Severance tax on gold.
Section 10-39-44 - Gross yield and gross production defined.
Section 10-39-45 - Finished value subject to tax--Allocation between processors.
Section 10-39-45.1 - Imposition of tax on net profit--Rate.
Section 10-39-45.2 - Deductions for determining net profit.
Section 10-39-45.3 - Estimated tax--Filing--Payment.
Section 10-39-45.4 - Annual filing--Payment, refund, or application to next estimate.
Section 10-39-45.5 - Annual statement required--Form--Contents.
Section 10-39-45.6 - Delinquency.
Section 10-39-48 - Failure to file statements as misdemeanor--Determination of tax.
Section 10-39-49 - Promulgation of rules.
Section 10-39-50 - Access to taxpayer's records--Violation as misdemeanor.
Section 10-39-52 - False statement as felony--Forfeiture.
Section 10-39-53 - Exemption of persons severing small amounts.
Section 10-39-54 - Distribution of proceeds.
Section 10-39-54.1 - Transfer of revenue payable to county.
Section 10-39-54.3 - Allocation of funds by county--Purposes.
Section 10-39-54.4 - Annual accounting by county.
Section 10-39-59 - Due dates of quarterly payments.
Section 10-39-60 - Temporary tax not additional tax.