10-43-90. Determining minimum tax imposed upon financial institutions engaged in the trust business.
If a financial institution as described in §10-43-88 has been authorized to engage in the trust business in South Dakota for fewer than twelve months, the annual minimum tax is five hundred dollars; for more than twelve months, but fewer than twenty-four months the annual minimum tax is two thousand dollars; for more than twenty-four months, but fewer than thirty-six months the annual minimum tax is five thousand dollars; for thirty-six months, but fewer than forty-eight months the annual minimum tax is ten thousand dollars; and for forty-eight months or more, the annual minimum tax is twenty-five thousand dollars.
Source: SL 1995, ch 268; §88; SL 1997, ch 272, §2.
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.