<html> <head> <title>Rule 64:26:02:12 Apportionment of bank franchise tax revenues among counties.</title> <META NAME="Keywords" Content="Administrative Rules 64:26:02:12"> <META NAME="Description" Content="Administrative Rules 64:26:02:12 Apportionment of bank franchise tax revenues among counties."> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Generator content="Microsoft Word 15 (filtered)"> <style> <!-- /* Font Definitions */ @font-face {font-family:"Cambria Math"; panose-1:2 4 5 3 5 4 6 3 2 4;} @font-face {font-family:Times; panose-1:2 2 6 3 5 4 5 2 3 4;} /* Style Definitions */ p.MsoNormal, li.MsoNormal, div.MsoNormal {margin:0in; margin-bottom:.0001pt; font-size:10.0pt; font-family:"Times",serif;} a:link, span.MsoHyperlink {color:blue; text-decoration:underline;} a:visited, span.MsoHyperlinkFollowed {color:purple; text-decoration:underline;} .MsoChpDefault {font-size:10.0pt;} @page WordSection1 {size:8.5in 11.0in; margin:1.0in 1.0in 1.0in 1.0in;} div.WordSection1 {page:WordSection1;} --> </style> </head> <body lang=EN-US link=blue vlink=purple> <div class=WordSection1> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>64:26:02:12.&nbsp;&nbsp;Apportionment of bank franchise tax revenues among counties.</b> </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>T</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>he tax remittances for the branches of depository institutions shall be distributed to each county pro rata based on the relationship the deposits at all branches in each county bear to the total deposits of the institution. The deposit information upon which this distribution </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>is</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> based is the deposit information filed with the Federal Deposit Insurance Corporation on June 30 of the</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> tax</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> year </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>for</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> which the tax return is </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>being filed</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>. The tax remittances from non-depository institutions </span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>shall be</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'> distributed pro rata based on the relationship net profits at all branches in each county bear to the total net profits of the non-depository institution.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 25 SDR 167, effective July 1, 1999</span><span style='font-size:12.0pt;font-family:"Times New Roman",serif'>; 46 SDR 66, effective November 26, 2019</span><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>.</span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=10-43-42.1">10-43-42.1(1)(2).</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=10-43-76">10-43-76.</A></span></p> <p class=MsoNormal style='text-align:justify'><span style='font-size:12.0pt; font-family:"Times New Roman",serif'>&nbsp;</span></p> </div> </body> </html>