South Dakota Codified Laws 32-5B-23. Tax on vehicles leased in another state–Credit for tax paid to another state
Current as of: 2023 | Check for updates
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Vehicles entering this state under a lease are subject to tax on the date the vehicle enters this state for the remaining lease period. A credit for tax paid on the lease for the lease period at issue where the incidence of the tax was on the lessor, lessee, or both, and the tax was paid by the lessor, lessee, or both, to another state shall be applied to the motor vehicle lease tax due on the lease from the lessor in this state, if the lessor and the lessee remain the same.
Terms Used In South Dakota Codified Laws 32-5B-23
- 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, § 6.