South Dakota Codified Laws 10-45-9.1. Exemption of property sold for lease
Current as of: 2023 | Check for updates
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Gross receipts from the sale of tangible personal property and any product transferred electronically to a person who intends to lease the property to persons in this state and actually does so are exempted from the provisions of this chapter and the tax composed by it.
Terms Used In South Dakota Codified Laws 10-45-9.1
- 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
- Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
- Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
Source: SL 1983, ch 86, § 4; SL 2008, ch 51, § 13.