64:06:01:44.  Sale of business permit not transferable. When the holder of a tax permit sells the business to another person, all tax for which the holder is liable becomes due immediately. The holder of the tax permit shall immediately notify the department and surrender the permit for cancellation and shall, within 15 days, make a final tax return and remit all tax due. The purchaser of the business shall apply for a new permit in the purchaser's own name.

          Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995; 28 SDR 178, effective July 1, 2002; 30 SDR 58, effective November 5, 2003; 32 SDR 225, effective July 3, 2006.

          General Authority: SDCL 10-45-47.1(1), 10-45D-13(1), 10-46E-11(2), 10-52A-7(1).

          Law Implemented: SDCL 10-45-24, 10-45D-12, 10-46E-8, 10-52A-6.