FOR AN ACT ENTITLED, An Act to repeal the contractor's excise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
    Section 1. That § 10-46A-1 be repealed.
    10-46A-1. There is imposed an excise tax upon the gross receipts of all prime contractors engaged in realty improvement contracts, at the rate of two percent.
    Section 2. That § 10-46B-1 be repealed.
    10-46B-1. There is imposed an excise tax upon the gross receipts of all prime contractors and subcontractors engaged in realty improvement contracts for those persons subject to tax under chapter 10-28, 10-33, 10-34, 10-35, 10-36, or 10-36A or any municipal telephone company subject to chapter 9-41 or any rural water system, at the rate of two percent. Notwithstanding the provisions of this section, the tax imposed by this chapter does not apply to the construction of a power generation facility as defined by § 10-45B-1.
    Section 3. That §§ 10-46A-1.1 to 1046A-19, inclusive, be repealed.
    Section 4. That §§ 10-46B-1.1 to 1046B-18, inclusive, be repealed.

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180 copies were printed on recycled paper by the South Dakota Legislative Research Council at a cost of $.063 per page.

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Insertions into existing statutes are indicated by underscores. Deletions from existing statutes are indicated by overstrikes.

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