South Dakota Codified Laws 10-45-1.3. Gross receipts not to include credit or trade-in value of certain personal property
Current as of: 2023 | Check for updates
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For purposes of the tax imposed by this chapter, if any tangible personal property or any product transferred electronically is taken in trade or in a series of trades as a credit or part payment of a retail sale taxable under this chapter, and the tangible personal property or the product transferred electronically taken in trade is subject to the sales tax imposed by this chapter when sold, the credit or trade-in value allowed by the retailer may not be included as gross receipts.
Terms Used In South Dakota Codified Laws 10-45-1.3
- Personal property: includes money, goods, chattels, things in action, and evidences of debt. See South Dakota Codified Laws 2-14-2
- Personal property: All property that is not real property.
Source: SL 2002, ch 64, § 16; SL 2008, ch 51, § 5.