South Dakota Codified Laws 32-5B-21. Applicability of tax on leased vehicles–Leasing information required
The tax imposed by §§ 32-5B-1, 32-5B-1.1, 32-5B-4(7), and 32-5B-21 to 32-5B-24, inclusive, and calculated in the manner set out in § 32-5B-4 on the sale or use of leased vehicles subject to titling and registration applies to vehicles with a gross vehicle weight ratings of less than sixteen thousand pounds or vehicles defined in subdivision 32-9-3(3), including motorcycles and motorized bicycles. No certificate of title may be issued until the tax is paid.
The county treasurer shall require every applicant for registration of a vehicle subject to tax under §§ 32-5B-1, 32-5B-1.1, 32-5B-4(7), and 32-5B-21 to 32-5B-24, inclusive, to supply information as is deemed necessary as to the date of the lease transaction, the lease price, and other information relative to the lease of the vehicle.
Terms Used In South Dakota Codified Laws 32-5B-21
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
Source: SL 2000, ch 145, § 4; SL 2001, ch 167, § 1; SL 2006, ch 161, § 1.