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State of South Dakota
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NINETY-SECOND SESSION LEGISLATIVE ASSEMBLY, 2017 |
| 177Y0474 | SENATE BILL NO. 105 |
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Introduced by: Senators Nelson, Frerichs, Russell, and Sutton and Representatives Dennert
and Lesmeister
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FOR AN ACT ENTITLED, An Act to reduce the excise tax imposed on the gross receipts from
sale, resale, or lease of farm machinery, attachment units, and irrigation equipment.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 10-46E-1 be amended to read:
10-46E-1. There is hereby imposed an excise tax of fourand one-half percent on the gross
receipts from the sale, resale, or lease of farm machinery, attachment units, and irrigation
equipment used exclusively for agricultural purposes. However, if any trade-in or exchange of
used farm machinery, attachment units, and irrigation equipment is involved in the transaction,
the excise tax is only due and may only be collected on the cash difference.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 10-46E-1 be amended to read:
10-46E-1. There is hereby imposed an excise tax of four
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100 copies were printed on recycled paper by the South Dakota Legislative Research Council at a cost of $.161 per page. |
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Insertions into existing statutes are indicated by underscores. Deletions from existing statutes are indicated by |
