10-43-10.2. Additions to taxable income.
Added to taxable income are:
(1)Interest or dividend income derived from obligations or securities of states or political subdivisions or authorities thereof not included in taxable income as determined under the Internal Revenue Code;
(2)All income taxes paid or accrued, as the case may be, during the tax year under the provisions of chapter 10-43 or under the provisions of any income tax, or franchise or privilege taxes measured by income levied by any other state or political subdivision to the extent that such taxes were deducted to determine federal taxable income;
(3)Bad debt deductions in excess of credits actually ascertained to be worthless and charged off within the tax year;
(4)Any amount subsequently received on account of a bad debt previously charged off as a deduction for tax purposes;
(5)Any amount received as a refund of federal income taxes during the tax year if that amount was previously deducted in determining net income;
(6)Dividends received from other corporations to the extent that such dividends have been deducted from net income as determined under the Internal Revenue Code; and
(7)Any capital loss from liquidating sales within the twelve-month period beginning on the date on which a financial institution adopts a plan of complete liquidation if all of the assets of the financial institution are distributed in complete liquidation less assets retained to meet claims within the twelve-month period, or from the distribution of property in complete liquidation of the financial institution which is subject to federal corporate income taxes pursuant to §336 of the Internal Revenue Code.
Source: SL 1977, ch 96, §4(1); SL 1978, ch 83, §1; SL 1987, ch 96, §§1, 5; SL 2014, ch 60, §1, eff. Jan. 1, 2015.
Structure South Dakota Codified Laws
Chapter 43 - Income Tax On Banks And Financial Corporations
Section 10-43-1 - Definition of terms.
Section 10-43-2 - Tax imposed on financial institutions.
Section 10-43-4 - Time of liability for tax--Rate of tax--Minimum.
Section 10-43-5 - Income tax in lieu of other taxes.
Section 10-43-10.1 - Net income defined.
Section 10-43-10.2 - Additions to taxable income.
Section 10-43-10.3 - Subtractions from taxable income.
Section 10-43-10.4 - Carryback of net operating losses not deductible.
Section 10-43-10.5 - Carryforward of net operating losses deductible.
Section 10-43-23.1 - Property factor.
Section 10-43-23.2 - Valuation of property owned or rented--Net annual rental rate.
Section 10-43-23.3 - Average value determination.
Section 10-43-24.1 - Payroll factor.
Section 10-43-24.2 - Compensation paid in state.
Section 10-43-25.1 - Receipts factor.
Section 10-43-25.3 - Fees, commissions, service charges, and other receipts included in numerator.
Section 10-43-25.4 - Rental property receipts included in numerator.
Section 10-43-25.8 - Affiliated service income included in numerator.
Section 10-43-25.9 - Affiliated service income defined.
Section 10-43-29.1 - Alternative apportionment methods.
Section 10-43-30.1 - Extension of time to file return_Conditions--Interest.
Section 10-43-34 - Final return on dissolution.
Section 10-43-36 - Consolidated report of related corporations.
Section 10-43-42.1 - Administration of chapter by secretary of revenue--Promulgation of rules.
Section 10-43-43.1 - Records kept by taxpayers--Inspection by secretary--Out-of-state records.
Section 10-43-77 - Apportionment of funds among taxing subdivisions.
Section 10-43-88 - Financial institution authorized to engage in trust business.
Section 10-43-89 - Tax on financial institutions engaging in trust business.
Section 10-43-91 - Tax on trustee of extended term trust.