Statutes, codes, and regulations
South Dakota Codified Laws
Title 10 - TAXATION
Chapter 43 - INCOME TAX ON BANKS AND FINANCIAL CORPORATIONS
Section 10-43-22.1 - Tax limited to income from business within state-Formula for net income apportionment

S.D. Codified Laws § 10-43-22.1

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Current through the 2024 Legislative Session
Section 10-43-22.1 - Tax limited to income from business within state-Formula for net income apportionment

Financial institutions engaged in business within and without the state shall be taxed only on such business as is properly apportioned to this state. All net income shall be apportioned to this state by multiplying the net income by a fraction, the numerator of which is the property factor, plus the payroll factor plus the receipts factor, the denominator of which is three.

SDCL 10-43-22.1

SL 1935, ch 205, § 15-a; SDC 1939, § 57.2707; SDCL, § 10-43-22; SL 1977, ch 96, § 5.