South Dakota Codified Laws 54-4-55. Exemption from other taxes
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Except for taxes on real property and license fees and other fees imposed by this chapter, the tax imposed in § 54-4-54 is in lieu of all other taxes and license fees, state, county, or local, upon the business of the licensee, or upon any money, credits, or other assets of the licensee whether tangible or intangible, and which money, credits, or other assets are used for or in connection with the conduct of business transacted in South Dakota. However, amounts determined to be in excess of business capital requirements are not exempt from other taxes.
Terms Used In South Dakota Codified Laws 54-4-55
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
Source: SL 1998, ch 280, § 20; SL 2006, ch 245, § 9.