<html> <head> <title>Rule 64:26:03:13 Filing of separate returns of financial institutions.</title> <META NAME="Keywords" Content="Administrative Rules 64:26:03:13"> <META NAME="Description" Content="Administrative Rules 64:26:03:13 Filing of separate returns of financial institutions."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>64:26:03:13.&nbsp;&nbsp;Filing of separate returns of financial institutions.</b> To determine if financial institutions sharing a common parent, such as a bank holding company, shall be required to file separate returns, the secretary shall consider the following factors:</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1)&nbsp;&nbsp;Whether there is a separate charter for each financial institution;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2)&nbsp;&nbsp;The extent of the flow of goods and services between an institution and its parent;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3)&nbsp;&nbsp;Whether management oversight by the parent is limited to strategic decisions affecting the operation of all subsidiaries generally, not individual institutions;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4)&nbsp;&nbsp;Whether there would be distortion of county income through the use of loss deductions incurred by institutions not doing business in the affected county;</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5)&nbsp;&nbsp;The presence or absence of common administrative officers or procedures; or</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6)&nbsp;&nbsp;Whether each institution is conducting business in a manner consistent with separate entities.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Source:</b> 16 SDR 76, effective November 1, 1989.</p> <p>&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.</A></p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <b>Law Implemented:</b>SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=10-43-36">10-43-36.</A></p> </div> </body> </html>