South Dakota Codified Laws 10-43-94. Entities exempt from payment of tax
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The State of South Dakota, any political subdivision of the state, and any quasi-governmental organization created by an executive order of the State of South Dakota and any subsidiary of such organization; any nonprofit United States Treasury Community Development Financial Institution, Small Business Administration Certified Development Company, or Regional Revolving Loan Fund; or any commercial club, chamber of commerce, or industrial development corporation formed pursuant to § 9-12-11 or 9-27-37 is exempt from the payment of this tax.
Terms Used In South Dakota Codified Laws 10-43-94
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- United States: when used in a geographical sense, includes the states, the District of Columbia, and the possessions of the United States. See South Dakota Codified Laws 10-43-1
Source: SL 2005, ch 257, § 7.