South Dakota Codified Laws
Chapter 43 - Income Tax On Banks And Financial Corporations
Section 10-43-42.1 - Administration of chapter by secretary of revenue--Promulgation of rules.

10-43-42.1. Administration of chapter by secretary of revenue--Promulgation of rules.
The provisions of this chapter shall be administered by the secretary of revenue and the secretary may promulgate rules, pursuant to chapter 1-26, concerning:
(1)The procedure for filing tax returns and payment of the tax;
(2)The type of accounting to be used;
(3)The definition and deductibility of net federal income taxes;
(4)The application of the tax and exemptions; and
(5)The records to be retained by the taxpayer.

Source: SL 1977, ch 96, §19; SL 1987, ch 82, §21; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011; SL 2016, ch 62, §15.

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Structure South Dakota Codified Laws

South Dakota Codified Laws

Title 10 - Taxation

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 10-43-22.1 - Tax limited to income from business within state--Formula for net income apportionment.

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 10-43-25.2 - Interest, fees, and penalties in nature of interest, discount, and net gain from loans included in numerator.

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 10-43-25.5 - Interest, dividends, and net gains from securities transactions included in numerator.

Section 10-43-25.6 - Receipts from securities used to maintain reserves against deposits included in numerator.

Section 10-43-25.7 - Receipts from securities held or pledged for public or trust funds 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 - Time for filing annual return and paying tax--Penalty and interest for delinquency.

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 10-43-46 - False or fraudulent return or information with intent to evade legal requirements as misdemeanor--Civil penalty.

Section 10-43-50.1 - Supplementary return required for taxable income increase due to federal adjustment--Payment of additional tax and interest.

Section 10-43-50.2 - Supplementary return for taxable income decrease due to federal adjustment--Refund for overpayment.

Section 10-43-50.3 - Failure to file supplementary return--Secretary's determination of additional tax--Interest and penalties.

Section 10-43-73 - Tax payment as condition precedent to doing business--Injunction against continuation in business by delinquent taxpayer.

Section 10-43-76 - Percentage of proceeds retained by state--Payment of remainder to counties--Branch office remittances kept separate.

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 10-43-90 - Determining minimum tax imposed upon financial institutions engaged in the trust business.

Section 10-43-91 - Tax on trustee of extended term trust.

Section 10-43-92 - Extended term trust defined.

Section 10-43-94 - Entities exempt from payment of tax.