S.D. Admin. R. 64:06:01:03.01

Current through Register Vol. 50, page 159, June 17, 2024

Section 64:06:01:03.01 - Bad checks

A check which is returned unpaid because of nonsufficient funds (NSF) or no account and which is not collected by the retailer may be taken as a bad debt deduction, or may be considered a reduction in gross receipts.

16 SDR 76, effective 11/1/1989; 21 SDR 219, effective 7/1/1995; 28 SDR 178, effective 7/1/2002; 29 SDR 177, effective 7/1/2003; 32 SDR 225, effective 7/3/2006; 33 SDR 226, effective 6/27/2007.

General Authority: SDCL 10-45-47.1(3), 10-45D-13(3), 10-46E-11(2), 10-52A-7(3).

Law Implemented: SDCL 10-45-1.14, 10-45-30, 10-45D-2, 10-46E-8, 10-52A-1.1.