32-5B-1.1. Licensing and payment of tax on leased vehicles--Assessment of tax upon purchase by lessee--Lessor to assign title and certify price, fees and title.
For motor vehicles leased for more than twenty-eight days, the lessor shall title and license the motor vehicle and denote the lessee on the application for title. The lessor or the lessee shall pay the motor vehicle excise tax. If the term of the lease is extended or if the vehicle is leased for an additional period of time, the motor vehicle excise tax shall be assessed on the additional lease payments and shall be paid by the lessor. If additional consideration is paid during the course of the lease or upon the termination of the lease, the motor vehicle excise tax shall be assessed upon such amount and paid by the lessor. If a lessee buys the leased vehicle at the end of the lease, excise tax shall be assessed on the purchase prices in §32-5B-4. The lessor shall assign the title to the lessee and shall deliver it to the county treasurer of the applicant's residence, along with an application certifying the price of the vehicle and the required fees and taxes.
A lessee who entered into a lease prior to July 1, 2000, and who paid excise tax based on the purchase price of the vehicle, including the value of the leased vehicle at the end of the lease, shall receive credit for tax previously paid if the lessee purchases the vehicle at the end of the lease.
An off-road vehicle, as defined by §32-3-1 and required to be titled pursuant to §32-20-12 and is titled in this state, that is leased for more than twenty-eight days, is subject to the provisions of this section.
Source: SL 1986, ch 248, §2; SL 1994, ch 245, §2; SL 1995, ch 175, §1; SL 2000, ch 145, §2; SL 2001, ch 166, §1; SL 2022, ch 93, §1.
Structure South Dakota Codified Laws
Chapter 05B - Excise Tax On Motor Vehicles
Section 32-5B-1 - Imposition of tax--Rate--Failure to pay as misdemeanor.
Section 32-5B-1.4 - Licensing and payment of excise tax on new vehicle by dealer.
Section 32-5B-2 - Exempt vehicles.
Section 32-5B-2.2 - Exemption for self-propelled agricultural application unit.
Section 32-5B-3 - Dealer's inventory exempt--Filing required.
Section 32-5B-4 - Purchase price defined.
Section 32-5B-4.1 - Insurance check included in trade-in value.
Section 32-5B-6 - Use of dealers' guide for used motor vehicles.
Section 32-5B-8 - Fixing value, capacity, and weight of rebuilt or foreign vehicle.
Section 32-5B-9 - Information to be presented by new owner of vehicle--Falsification as felony.
Section 32-5B-10 - Payment of tax.
Section 32-5B-11 - Credit for taxes paid to this or another state.
Section 32-5B-12 - Proration of tax on proportionally registered vehicles.
Section 32-5B-14 - Title issuance or transfer prohibited unless tax paid--Exception.
Section 32-5B-15 - Rules authorized.
Section 32-5B-16 - Records required of sellers--Inspection.
Section 32-5B-17 - Disposition of revenue.
Section 32-5B-18 - "Siblings" defined.
Section 32-5B-19 - Rental vehicle and leased vehicle defined.
Section 32-5B-20 - Gross receipts tax on vehicle rental--Violation as misdemeanor.
Section 32-5B-21 - Applicability of tax on leased vehicles--Leasing information required.
Section 32-5B-22 - No tax refund for early termination of lease.
Section 32-5B-23 - Tax on vehicles leased in another state--Credit for tax paid to another state.
Section 32-5B-24 - Tax credit for total loss of leased vehicle.
Section 32-5B-25 - Excise taxes on off-road vehicles deposited in general fund.