32-3A-52. Exemptions from excise tax.
Exempt from the provisions of §32-3A-50 are:
(1)Any large boat which is the property of the governmental units which are exempted from motor vehicle registration fees by §§32-5-42 and 32-5-42.1;
(2)Any large boat acquired by inheritance or bequest;
(3)Any large boat previously titled or licensed jointly in the names of two or more persons and subsequently transferred without consideration to one or more of such persons;
(4)Any large boat transferred without consideration between spouses, between a parent and child, and between siblings;
(5)Any large boat transferred pursuant to any mergers or consolidations of corporations or limited liability companies, or plans of reorganization by which substantially all of the assets of a corporation or limited liability company are transferred if the large boat was previously titled, licensed, and registered in this state;
(6)Any large boat transferred by a subsidiary corporation or limited liability company to its parent corporation or limited liability company for no or nominal consideration or in sole consideration of the cancellation or surrender of the subsidiary's stock if the large boat was previously titled, licensed, and registered in this state;
(7)Any large boat transferred between an individual and a corporation if the individual and the owner of the majority of the capital stock of the corporation are one and the same, or any large boat transferred between an individual and a limited liability company if the individual and the majority member of the limited liability company are one and the same, and if the large boat was previously titled and registered in this state;
(8)Any large boat transferred between a corporation or limited liability company and its stockholders, members, or creditors if to effectuate a dissolution of the corporation or limited liability company it is necessary to transfer the title from the corporate entity or limited liability company to the stockholders, members, or creditors and if the large boat was previously titled and registered in this state;
(9)Any large boat transferred between an individual and limited or general partnership if the individual and the owner of the majority interest in the partnership are one and the same person and if the large boat was previously titled and registered in this state;
(10)Any large boat transferred to effect a sale of all or substantially all of the assets of the business entity if the large boat was previously titled and registered in this state;
(11)Any large boat acquired by a secured party or lien holder in satisfaction of a debt;
(12)Any large boat sold or transferred which is eleven or more years old and which is sold or transferred for two thousand five hundred dollars or less before trade-in;
(13)Any damaged large boat transferred to an insurance company in the settlement of an insurance claim;
(14)Any large boat owned by a former resident of this state who returns to the state and who had previously paid excise tax to this state on the large boat as evidenced within the department's records or by submission of other acceptable proof of payment of such tax;
(15)Any large boat transferred between corporations, both subsidiary and nonsubsidiary, if the individuals who hold a majority of stock in the first corporation also hold a majority of stock in the second corporation; but these individuals need not hold the same ratio of stock in both corporations and if the large boat was previously titled and registered in this state;
(16)Any large boat transferred between limited liability companies, both subsidiary and nonsubsidiary, if the individuals who hold a majority interest in the first limited liability company also hold a majority interest in the second limited liability company and if the large boat was previously titled, licensed, and registered in this state; and
(17)Any large boat transferred by a trustor to a trustee or from a trustee to a beneficiary of a trust.
Source: SL 1993, ch 102, §3; SL 1994, ch 335, §5; SDCL §10-60-3; SL 2001, ch 163, §8; SL 2014, ch 138, §3; SL 2014, ch 139, §1; SL 2016, ch 153, §1.
Structure South Dakota Codified Laws
Chapter 03A - Title Registration And Taxation Of Boats
Section 32-3A-2 - Definition of terms.
Section 32-3A-4 - Registration of boats--Application--Violation as felony.
Section 32-3A-5.2 - Mailing fees.
Section 32-3A-11 - Exemptions from numbering requirement.
Section 32-3A-12 - Replacement of lost decal or registration--Fee.
Section 32-3A-13 - Expiration and renewal of registration and validation decals.
Section 32-3A-14 - Abstract of boat registration information--Fee.
Section 32-3A-15 - Administrative fee for each boat license.
Section 32-3A-16 - Display of other numbers on boat prohibited--Misdemeanor.
Section 32-3A-17 - Inspection by law enforcement officer.
Section 32-3A-18 - Classification of boats for equipment purposes.
Section 32-3A-19 - Territorial application of chapter--Identical local rules not prohibited.
Section 32-3A-20 - Application for title.
Section 32-3A-21 - Time for application for certificate of title--Form and content of application.
Section 32-3A-21.1 - Administration fee--Title applications processed by mail.
Section 32-3A-22 - Acquisition of used large boat by dealer--Application for title.
Section 32-3A-24 - Transfer of title required for large boats--Violation as misdemeanor.
Section 32-3A-25 - Fee for issue, transfer, or correction of certificate of title--Duplicate title.
Section 32-3A-27 - Hull identification number.
Section 32-3A-28 - Dealer record of large boats--Inspection by Department of Revenue.
Section 32-3A-29 - Transfer by operation of law--Transferee application for title.
Section 32-3A-30 - Security interest in large boat--Perfecting interest--Fee.
Section 32-3A-31 - Forms to implement large boat provisions.
Section 32-3A-32 - Certificate of title for large boats not yet subject to large boat provisions.
Section 32-3A-33 - Promulgation of rules for titling large boats.
Section 32-3A-34 - Registration requirements--Time to apply for large boat registration.
Section 32-3A-35 - No tax paid title for large boat.
Section 32-3A-37 - Validation of nonnegotiable interstate title application.
Section 32-3A-38 - Abstract of boat title history--Fee.
Section 32-3A-38.3 - Damage disclosure statement to be part of title history.
Section 32-3A-38.8 - Large boats previously titled in another state--Notation on title required.
Section 32-3A-39 - Temporary permit--Fee.
Section 32-3A-41 - Late application--Fee--Violation as misdemeanor.
Section 32-3A-42 - False statement on application for certificate of title as felony.
Section 32-3A-43 - Alteration or forgery of title as a felony.
Section 32-3A-44 - Burden of proving ownership of large boat.
Section 32-3A-46 - Release of discharged lien--Notation on title--Time requirement.
Section 32-3A-47 - Record of chain of title of large boat.
Section 32-3A-48 - Duties of county treasurer.
Section 32-3A-49 - Refusal or revocation of license--Notice.
Section 32-3A-51 - "Large boat" defined.
Section 32-3A-52 - Exemptions from excise tax.
Section 32-3A-53 - Purchase price defined.
Section 32-3A-54 - Used large boats--Valuation.
Section 32-3A-55 - Application for title and registration--Falsification as felony.
Section 32-3A-56 - Payment of tax to county treasurer.
Section 32-3A-57 - Boats previously subjected to tax.
Section 32-3A-58 - No issuance or transfer of title without tax payment.
Section 32-3A-59 - Seller's books and records--Availability--Retention.
Section 32-3A-60 - Deposit of revenues.
Section 32-3A-61 - Siblings defined.
Section 32-3A-62 - Revenues allocated for state aid to education.
Section 32-3A-63 - Expenditures on educational purposes--Vouchers.