South Dakota Codified Laws 10-43-22.1. Tax limited to income from business within state–Formula for net incomeapportionment
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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.
Terms Used In South Dakota Codified Laws 10-43-22.1
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1935, ch 205, § 15-a; SDC 1939, § 57.2707; SDCL, § 10-43-22; SL 1977, ch 96, § 5.