South Dakota Codified Laws 58-6-68. Insurers subject to taxation–Filing of returns and reports–Exemption of qualified pension, annuity, or profit-sharing plans
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Insurers shall be subject to taxation according to the provisions of Title 10 and shall file such tax returns and reports as may be directed by the director, provided, however, that no tax shall be due or payable as to premiums or considerations received from policies or contracts issued in connection with a pension, annuity, or profit–sharing plan exempt or qualified under section 401, 403(b), 404, 408, 457, or 501(a) of the United States Internal Revenue Code with respect to the tax payable in 1973 and annually thereafter.
Terms Used In South Dakota Codified Laws 58-6-68
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
Source: SL 1966, ch 111, ch 3, § 28 (1); SL 1972, ch 260, § 1; SL 1975, ch 306; SL 1989, ch 422.