South Dakota Codified Laws 47-22-68.4. Distributions required of foundation
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The corporation described in § 47-22-68.2 shall distribute for each of its taxable years amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue Code.
Terms Used In South Dakota Codified Laws 47-22-68.4
- 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.
Source: SL 1972, ch 244, § 2 (1).