13-65-3.1. Tax credits reducing quarterly payments.
Any company may claim a premium tax credit as provided in §13-65-2 to reduce quarterly payments required by §10-44-2. Claims for tax credits on quarterly payments shall be reported to the Division of Insurance on a form prescribed by the director. Pursuant to §13-65-8, a company must report the amount and specify, at the time of contribution, the quarter to which the premium tax credit shall be applied. No tax credit claimed under this section may reduce a quarterly payment otherwise required by §10-44-2 to an amount less than zero. A company shall report all reductions in quarterly payments pursuant to this section on its annual premium tax return.
Source: SL 2019, ch 97, §1.
Structure South Dakota Codified Laws
Chapter 65 - Partners In Education Tax Credit Program
Section 13-65-1 - Definitions.
Section 13-65-2 - Partners in education tax credit program established.
Section 13-65-3 - Limit on tax credits.
Section 13-65-3.1 - Tax credits reducing quarterly payments.
Section 13-65-4 - Requirements for scholarship granting organizations.
Section 13-65-5 - Annual financial information reports.
Section 13-65-6 - Responsibilities of eligible students and their parents.
Section 13-65-7 - Promulgation of rules.
Section 13-65-8 - Receipts for contributions--Reporting of each contribution.
Section 13-65-9 - Annual report of contributions.
Section 13-65-10 - Financial review or audit.
Section 13-65-11 - Applicability of chapter.
Section 13-65-12 - Regulatory authority over nonpublic schools not expanded.