10-44-16. Penalty on unpaid taxes and installments--Refunds.
All taxes and installments not paid when due shall be paid together with a penalty assessment on the unpaid balance at the rate of one and one-half percent per month, or fraction thereof. The Division of Insurance may refund any penalty or interest paid in error. Upon written request by a receiver, the director of the Division of Insurance may extend the time for payment of the tax and may waive any penalty assessment.
Source: SL 1982, ch 110, §5A; SL 1984, ch 84; SL 1993, ch 97, §3.
Structure South Dakota Codified Laws
Chapter 44 - Insurance Company Premium And Annuity Tax
Section 10-44-1 - Definition of terms.
Section 10-44-1.1 - Rules of director of insurance.
Section 10-44-2.1 - Applicability of tax on premiums and consideration for annuities.
Section 10-44-2.2 - Premium tax on travel insurance--Tax allocation and reporting.
Section 10-44-3 - Farm mutual insurers and fraternal benefit societies exempt from tax.
Section 10-44-4 - Tax credit for principal office or regional home office.
Section 10-44-5 - Functions of regional home office and principal office--Rules.
Section 10-44-7 - Payment required for certificate permitting continuance in business.
Section 10-44-8 - Exemption of taxpayer from other taxes.
Section 10-44-9 - Additional tax levied on fire insurance premiums.
Section 10-44-9.1 - Determining amount of fire insurance premium tax--Distribution.
Section 10-44-9.2 - Fire departments eligible for tax distribution certified annually by department.
Section 10-44-9.4 - Allocation to counties--Amount.
Section 10-44-9.5 - Allocation to fire departments serving county--Amount.
Section 10-44-15 - Payment of fire insurance tax proceeds into firemen's pension fund.
Section 10-44-16 - Penalty on unpaid taxes and installments--Refunds.