reglab/housing_qa huggingface dataset:
SD Codified L § 10-43-10.1 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-10.1 - Net income defined.

10-43-10.1. Net income defined.Net income, in the case of a financial institution, is taxable income as defined in the United States Internal Revenue Code, as defined by §10-1-47, and reportable for federal income tax purposes for the taxable year, but subject to the adjustments as provided in §§10-43-10.2 and 10-43-10.3. If a financial institution has elected to file its federal tax return pursuant to 26 USC §1362(a) of the United States Internal Revenue Code, as defined by §10-1-47, net income shall be computed in the same manner and in the same amount as if that institution had continued to file its federal tax return without making the election and the financial institution shall continue to be treated as a separate corporation for the purposes of this chapter. If a financial institution is organized as a limited liability company, the limited liability company shall be treated as a separate corporation for the purpose of this chapter. Source: SL 1977, ch 96, §4; SL 1978, ch 83, §5; SL 1979, ch 82, §3; SL 1981, ch 98; SL 1982, ch 95, §3; SL 1983, ch 82, §1; SL 1984, ch 70, §1; SL 1985, ch 83, §1; SL 1986, ch 98, §1; SL 1987, ch 95; SL 1988, ch 103, §1; SL 1989, ch 101, §1; SL 1990, ch 83, §1; SL 1991, ch 98, §1; SL 1992, ch 68, §1; SL 1993, ch 95, §1; SL 1994, ch 92, §1; SL 1995, ch 65, §1; SL 1996, ch 79, §1; SL 1997, ch 64, §1; SL 1997, ch 65, §1; SL 1998, ch 68, §1; SL 1999, ch 56, §1; SL 2000, ch 59, §1; SL 2001, ch 53, §1; SL 2002, ch 59, §1; SL 2003, ch 60, §1; SL 2004, ch 90, §1; SL 2004, ch 289, §3; SL 2005, ch 67, §1; SL 2006, ch 45, §1; SL 2007, ch 54, §1; SL 2008, ch 46, §3; SL 2009, ch 39, §9; SL 2010, ch 45, §9; SL 2011, ch 48, §9; SL 2012, ch 59, §9; SL 2013, ch 42, §9; SL 2014, ch 54, §9; SL 2015, ch 62, §9; SL 2016, ch 54, §10.
SD Codified L § 10-43-10.2 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-10.2 - Additions to taxable income.

10-43-10.2. Additions to taxable income.Added to taxable income are:(1)Interest or dividend income derived from obligations or securities of states or political subdivisions or authorities thereof not included in taxable income as determined under the Internal Revenue Code;(2)All income taxes paid or accrued, as the case may be, during the tax year under the provisions of chapter 10-43 or under the provisions of any income tax, or franchise or privilege taxes measured by income levied by any other state or political subdivision to the extent that such taxes were deducted to determine federal taxable income;(3)Bad debt deductions in excess of credits actually ascertained to be worthless and charged off within the tax year;(4)Any amount subsequently received on account of a bad debt previously charged off as a deduction for tax purposes;(5)Any amount received as a refund of federal income taxes during the tax year if that amount was previously deducted in determining net income;(6)Dividends received from other corporations to the extent that such dividends have been deducted from net income as determined under the Internal Revenue Code; and(7)Any capital loss from liquidating sales within the twelve-month period beginning on the date on which a financial institution adopts a plan of complete liquidation if all of the assets of the financial institution are distributed in complete liquidation less assets retained to meet claims within the twelve-month period, or from the distribution of property in complete liquidation of the financial institution which is subject to federal corporate income taxes pursuant to §336 of the Internal Revenue Code. Source: SL 1977, ch 96, §4(1); SL 1978, ch 83, §1; SL 1987, ch 96, §§1, 5; SL 2014, ch 60, §1, eff. Jan. 1, 2015.
SD Codified L § 10-43-10.3 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-10.3 - Subtractions from taxable income.

10-43-10.3. Subtractions from taxable income.Subtracted from taxable income are:(1)Dividends received from financial institutions subject to taxation under this chapter to the extent such dividends were included in taxable income as determined under the Internal Revenue Code;(2)Taxes imposed upon the financial institution within the tax year, under the Internal Revenue Code excluding any taxes imposed under 26 USC §1374 and 26 USC §1375;(3)Any interest expense described in §§291(e)(1)(B) and 265(b) of the Internal Revenue Code, which interest expense shall be deductible;(4)Any capital gain from liquidating sales within the twelve-month period beginning on the date on which a financial institution adopts a plan of complete liquidation if all of the assets of the financial institution are distributed in complete liquidation less assets retained to meet claims within the twelve-month period, or from the distribution of property in complete liquidation of the financial institution which is subject to federal corporate income taxes pursuant to §336 of the Internal Revenue Code;(5)Any adjustment to taxable income due to a change in the method used to compute the federal bad debt deduction where the adjustment has already been included in taxable income for purposes of the tax imposed by this chapter;(6)For those financial institutions making an election pursuant to 26 USC §1362(a) of the United States Internal Revenue Code, as defined by §10-1-47, imputed federal income taxes in an amount equal to the taxes that would have been paid on net income as defined in §10-43-10.1 had the financial institution continued to file its federal tax return without making an election to file pursuant to 26 USC §1362(a); and(7)For those financial institutions organized as limited liability companies, imputed federal income taxes in an amount equal to the taxes that would have been paid on net income as defined in §10-43-10.1 had the financial institution elected to file as a subchapter C corporation under the Internal Revenue Code. Source: SL 1977, ch 96, §4 (2); SL 1978, ch 83, §2; SL 1985, ch 84; SL 1987, ch 96, §§2-4; SL 1988, ch 104; SL 1997, ch 64, §2; SL 2004, ch 289, §4; SL 2014, ch 60, §2, eff. Jan. 1, 2015; SL 2015, ch 62, §11; SL 2016, ch 54, §11; SL 2016, ch 62, §6.
SD Codified L § 10-43-10.4 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-10.4 - Carryback of net operating losses not deductible.

10-43-10.4. Carryback of net operating losses not deductible.No carryback of net operating losses may be deducted from net income for state tax purposes. Source: SL 1982, ch 108; SL 2014, ch 60, §3, eff. Jan. 1, 2015; SL 2016, ch 62, §7.
SD Codified L § 10-43-10.5 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-10.5 - Carryforward of net operating losses deductible.

10-43-10.5. Carryforward of net operating losses deductible.A deduction may be made for a carryforward of a net operating loss. The deduction is limited to the seven tax years immediately following the tax year of the loss. Net income may not be less than zero prior to making the adjustments provided for in §§10-43-10.2 and 10-43-10.3 because of a deduction taken for losses not incurred during the tax year for which the return is being filed.The provisions of this section only apply to net operating losses incurred on or after January 1, 2015. Source: SL 2014, ch 60, §4, eff. Jan. 1, 2015; SL 2016, ch 62, §8.
SD Codified L § 10-43-22.1 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-22.1 - Tax limited to income from business within state--Formula for net income apportionment.

10-43-22.1. Tax limited to income from business within state--Formula for net income apportionment.Financial institutions engaged in business within and without the state shall be taxed only on such business as is properly apportioned to this state. All net income shall be apportioned to this state by multiplying the net income by a fraction, the numerator of which is the property factor, plus the payroll factor plus the receipts factor, the denominator of which is three. Source: SL 1935, ch 205, §15-a; SDC 1939, §57.2707; SDCL, §10-43-22; SL 1977, ch 96, §5.
SD Codified L § 10-43-23.1 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-23.1 - Property factor.

10-43-23.1. Property factor.The property factor used in §10-43-22.1 is a fraction, the numerator of which is the average value of the financial institution's real and tangible property owned or rented and used in this state during the tax period and the denominator of which is the average value of all the financial institution's real and tangible personal property owned or rented and used everywhere during the tax period. Source: SL 1977, ch 96, §6; SL 2014, ch 61, §1, eff. Jan. 1, 2015.
SD Codified L § 10-43-23.2 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-23.2 - Valuation of property owned or rented--Net annual rental rate.

10-43-23.2. Valuation of property owned or rented--Net annual rental rate.Property owned by the financial institution is valued at its original cost. Property rented by the financial institution is valued at eight times the net annual rental rate. Net annual rental rate is the annual rental rate paid by the taxpayer less any annual rental received by the financial institution from subrentals. Source: SL 1977, ch 96, §7.
SD Codified L § 10-43-23.3 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-23.3 - Average value determination.

10-43-23.3. Average value determination.The average value of property shall be determined by averaging the values at the beginning and ending of the tax period if reasonably required to reflect properly the average value of the financial institution's property. Source: SL 1977, ch 96, §8.
SD Codified L § 10-43-24.1 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-24.1 - Payroll factor.

10-43-24.1. Payroll factor.The payroll factor used in §10-43-22.1 is a fraction, the numerator of which is the total amount paid in this state during the tax period by the financial institution for compensation, and the denominator of which is the total compensation paid everywhere during the tax period. Compensation does not include any payment to any independent contractor or any other person not classified as an employee. Source: SL 1977, ch 96, §9; SL 2014, ch 61, §2, eff. Jan. 1, 2015; SL 2016, ch 62, §9.
SD Codified L § 10-43-24.2 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-24.2 - Compensation paid in state.

10-43-24.2. Compensation paid in state.Compensation is paid in this state if:(1)The individual's service is performed entirely within this state; (2)The individual's service is performed both within and without the state, but the service performed without the state is incidental to the individual's service within the state; or(3)Some of the individual's service is performed in the state and:(a)The base of operations, or if there is no base of operations, the place from which the individual's service is directed or controlled, is in this state; or(b)The base of operations or place from which the individual's service is directed or controlled is not in any state in which some part of the individual's service is performed, but the individual's residence is in this state. Source: SL 1977, ch 96, §10 (1), (2); SL 2014, ch 61, §3, eff. Jan. 1, 2015.
SD Codified L § 10-43-25.1 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-25.1 - Receipts factor.

10-43-25.1. Receipts factor.The receipts factor used in §10-43-22.1 is a fraction, the numerator of which is the total receipts of the financial institution in the state during the tax period, and the denominator of which is the total receipts of the financial institution everywhere during the tax period. Source: SL 1977, ch 96, §11; SL 2014, ch 61, §5, eff. Jan. 1, 2015.
SD Codified L § 10-43-25.3 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-25.3 - Fees, commissions, service charges, and other receipts included in numerator.

10-43-25.3. Fees, commissions, service charges, and other receipts included in numerator.Fees, other than those described in §10-43-25.2, commissions, service charges, and other receipts from the rendering of financial or fiduciary services shall be included in the numerator specified in §10-43-25.1 if the service is principally performed in South Dakota unless the fees, commissions, service charges, and other receipts are affiliated service income as provided in §10-43-25.8. Source: SL 1977, ch 96, §13; SL 1996, ch 80, §1; SL 2014, ch 61, §7, eff. Jan. 1, 2015.
SD Codified L § 10-43-25.4 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-25.4 - Rental property receipts included in numerator.

10-43-25.4. Rental property receipts included in numerator.Receipts from the rental of real or tangible personal property shall be included in the numerator specified in §10-43-25.1 if the property is principally located in South Dakota. Source: SL 1977, ch 96, §14; SL 2014, ch 61, §8, eff. Jan. 1, 2015.
SD Codified L § 10-43-25.5 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-25.5 - Interest, dividends, and net gains from securities transactions included in numerator.

10-43-25.5. Interest, dividends, and net gains from securities transactions included in numerator.Interest, dividends, and net gains from transactions in securities, including stocks, bonds, and all other money markets instruments, shall be included in the numerator specified in §10-43-25.1 if the financial institution's principal place of business is in South Dakota. Source: SL 1977, ch 96, §15; SL 2014, ch 61, §9, eff. Jan. 1, 2015.
SD Codified L § 10-43-25.6 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-25.6 - Receipts from securities used to maintain reserves against deposits included in numerator.

10-43-25.6. Receipts from securities used to maintain reserves against deposits included in numerator.Notwithstanding the provisions of §10-43-25.5, receipts from securities used to maintain reserves against deposits to meet federal and state reserve requirements shall be included in the numerator specified in §10-43-25.1 based on the ratio that the deposits in South Dakota bear to total deposits everywhere during the tax period. Source: SL 1977, ch 96, §15 (1); SL 2014, ch 61, §10, eff. Jan. 1, 2015.
SD Codified L § 10-43-25.7 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-25.7 - Receipts from securities held or pledged for public or trust funds included in numerator.

10-43-25.7. Receipts from securities held or pledged for public or trust funds included in numerator.Receipts from securities owned by a financial institution but held or pledged to secure public or trust funds shall be included in the numerator specified in §10-43-25.1 if the financial institution's office where the deposits are maintained is in South Dakota. Source: SL 1977, ch 96, §§15 (2), 20; SL 2014, ch 61, §11, eff. Jan. 1, 2015.
SD Codified L § 10-43-25.8 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-25.8 - Affiliated service income included in numerator.

10-43-25.8. Affiliated service income included in numerator.Affiliated service income shall be included in the numerator specified in §10-43-25.1 only if the income relates to:(1)Loans secured primarily by real property or tangible personal property located in this state; (2)Loans made to customers located in this state, which are not secured by real property or tangible personal property; or(3)Credit card receivables from customers in this state. Source: SL 1996, ch 80, §2; SL 2014, ch 61, §12, eff. Jan. 1, 2015.
SD Codified L § 10-43-25.9 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-25.9 - Affiliated service income defined.

10-43-25.9. Affiliated service income defined.For the purposes of §§10-43-25.3 and 10-43-25.8, affiliated service income means fees, commissions, service charges, and other receipts from the production or servicing of loans or credit card receivables by a nondepository financial institution for another nondepository financial institution, if each nondepository financial institution is in the same affiliated group for purposes of filing a consolidated federal corporate income tax return. Source: SL 1996, ch 80, §3; SL 2014, ch 61, §13, eff. Jan. 1, 2015.
SD Codified L § 10-43-29.1 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-29.1 - Alternative apportionment methods.

10-43-29.1. Alternative apportionment methods.If the apportionment methods included in §§10-43-22.1 to 10-43-25.9, inclusive, do not fairly represent the financial institution's net income in this state, the financial institution may petition for, or the secretary may require with respect to all or any part of the taxpayer's business activity:(1)Separate accounting;(2)The exclusion of any one or more of the factors;(3)The inclusion of one or more additional factors which will fairly represent the taxpayer's business activity in this state; or(4)The employment of any other method to effectuate an equitable allocation and apportionment of the taxpayer's taxable income.The secretary shall promulgate rules pursuant to chapter 1-26 within six months of any decision to use any of the alternative apportionment methods provided under this section. Source: SL 1935, ch 205, §15-a; SDC 1939, §57.2707; SDCL §10-43-29; SL 1977, ch 96, §16; SL 1987, ch 82, §19; SL 2013, ch 54, §1; SL 2013, ch 55, §1.
SD Codified L § 10-43-30 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-30 - Time for filing annual return and paying tax--Penalty and interest for delinquency.

10-43-30. Time for filing annual return and paying tax--Penalty and interest for delinquency.Each taxpayer shall file a return for the tax year, and pay any tax imposed by this chapter, within fifteen days after the taxpayer's federal income tax return is due.Any return not filed by the due date or tax not paid by the due date is delinquent and bears penalty and interest as provided in §10-59-6. Source: SDC 1939, §57.2701; SL 1977, ch 96, §17; SL 1983, ch 80, §1; SL 1985, ch 85; SL 1988, ch 105; SL 1993, ch 96, §11; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2008, ch 50, §1; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011; SL 2016, ch 62, §10.
SD Codified L § 10-43-30.1 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-30.1 - Extension of time to file return_Conditions--Interest.

10-43-30.1. Extension of time to file return--Conditions--Interest.Any taxpayer shall receive an extension of time to file the return required by this chapter to a day not later than six months from the day the return was originally due, if the taxpayer:(1)Files for an extension of time to file the taxpayer's federal income tax return;(2)Files a copy of the federal income tax return extension request with the Department of Revenue on or before the day the return was originally due; and(3)Makes a reasonable estimate of the amount of tax due and pays that amount with or prior to the request for extension of time to file.If the time for filing the return is extended at the request of the taxpayer, and the amount of tax due exceeds the reasonable estimate paid pursuant to subdivision (3), interest, but not penalty, shall be added to the difference at the same rate as provided for in §10-59-6 from the time the return was originally due until the additional taxes due are paid. Source: SL 1987, ch 97; SL 2008, ch 50, §2; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011; SL 2016, ch 62, §11.
SD Codified L § 10-43-34 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-34 - Final return on dissolution.

10-43-34. Final return on dissolution.Before a corporation may be dissolved and its assets distributed, the corporation shall make a return for any settlement of the tax for any income earned in the income year up to its final date of dissolution. Source: SL 1935, ch 205, §15; SDC 1939, §57.2713; SL 2008, ch 37, §103; SL 2016, ch 62, §14.
SD Codified L § 10-43-36 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-36 - Consolidated report of related corporations.

10-43-36. Consolidated report of related corporations.Any related corporation required to report under this chapter and owned or controlled either directly or indirectly by another corporation may petition the secretary of revenue, or may be required by the secretary of revenue, to make a consolidated report with related corporations that are required to report under this chapter showing the combined net income, such assets of the corporation as are required for the purpose of this chapter, and such other information as the secretary of revenue may require by rule promulgated pursuant to chapter 1-26. Source: SDC 1939, §57.2714; SL 1977, ch 96, §18; SL 1987, ch 82, §20; SL 2000, ch 58, §3; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011; SL 2013, ch 54, §2.
SD Codified L § 10-43-42.1 (2021)
2021 South Dakota Codified Laws|Title 10 - Taxation|Chapter 43 - Income Tax On Banks And Financial Corporations|Section 10-43-42.1 - Administration of chapter by secretary of revenue--Promulgation of rules.

10-43-42.1. Administration of chapter by secretary of revenue--Promulgation of rules.The provisions of this chapter shall be administered by the secretary of revenue and the secretary may promulgate rules, pursuant to chapter 1-26, concerning:(1)The procedure for filing tax returns and payment of the tax;(2)The type of accounting to be used;(3)The definition and deductibility of net federal income taxes;(4)The application of the tax and exemptions; and(5)The records to be retained by the taxpayer. Source: SL 1977, ch 96, §19; SL 1987, ch 82, §21; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011; SL 2016, ch 62, §15.