South Dakota Codified Laws 49-37-13. Privilege tax levied against district
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For the privilege of engaging in the business of generating, distributing, transmitting, purchasing, selling electric energy for public use, or any other business as provided in chapters 49-35 to 49-40, inclusive, there is levied upon, and shall be collected from, each consumers power district an occupational excise tax equal to all the taxes, including, but not limited to, licenses, excise, property, and special assessment taxes, except federal taxes, which a person, partnership, limited liability company, association, or private corporation engaged in a similar business would be required to pay.
Terms Used In South Dakota Codified Laws 49-37-13
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- 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 1950 (SS), ch 17, § 66; SDC Supp 1960, § 52.1765; SL 1994, ch 351, § 138.