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.

          Source: 16 SDR 76, effective November 1, 1989; 21 SDR 219, effective July 1, 1995; 28 SDR 178, effective July 1, 2002; 29 SDR 177, effective July 1, 2003; 32 SDR 225, effective July 3, 2006; 33 SDR 226, effective June 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.