<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 10-43-50.2 - Supplementary return for taxable income decrease due to federal adjustment--Refund for overpayment. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2038610Normal { margin-top: 0; margin-bottom: 0; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2038610SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2038610CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2038610Normal-000000 { margin-top: 0; margin-bottom: 0; text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2038610DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2038610Normal-000001 { margin-top: 0; margin-bottom: 0; text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-left: 0; margin-right: 0; } span.s2038610000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2038610SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2038610SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2038610Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-43-50.2"><span class="s2038610SENU">10-43-50.2</span></a><span xml:space="preserve" class="s2038610SENU">. </span><span class="s2038610CL">Supplementary return for taxable income decrease due to federal adjustment--Refund for overpayment.</span></p><p dir="ltr" class="s2038610Normal-000000"><span xml:space="preserve" class="s2038610DefaultParagraphFont">A taxpayer who has filed a return with the department for a specific tax year and subsequently has a change or correction to the taxpayer's net income, as a result of audit or adjustment by the United States, that decreases the taxpayer's taxable income in this state, may report the change or correction in writing to the secretary. The report shall be in the form of a supplementary return and shall be filed within one hundred twenty days of the final adjustment by the United States. Any refund for overpayment of tax, penalty, or interest shall be made pursuant to §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-59-22"><span class="s2038610DefaultParagraphFont">10-59-22</span></a><span xml:space="preserve" class="s2038610DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-59-22.1"><span class="s2038610DefaultParagraphFont">10-59-22.1</span></a><span xml:space="preserve" class="s2038610DefaultParagraphFont">, </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-59-23"><span class="s2038610DefaultParagraphFont">10-59-23</span></a><span xml:space="preserve" class="s2038610DefaultParagraphFont">, and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-59-24"><span class="s2038610DefaultParagraphFont">10-59-24</span></a><span xml:space="preserve" class="s2038610DefaultParagraphFont">. The provisions of this section apply notwithstanding §§ </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-59-17"><span class="s2038610DefaultParagraphFont">10-59-17</span></a><span xml:space="preserve" class="s2038610DefaultParagraphFont"> and </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-59-19"><span class="s2038610DefaultParagraphFont">10-59-19</span></a><span class="s2038610DefaultParagraphFont">.</span></p><p dir="ltr" class="s2038610Normal-000001"><span class="s2038610DefaultParagraphFont">No court has jurisdiction of a suit to recover the taxes, penalties, or interest unless the taxpayer seeking the recovery of the tax complies with the provisions of this section.</span></p><p dir="ltr" class="s2038610Normal"><span xml:space="preserve" class="s2038610000002"> </span></p><p dir="ltr" class="s2038610Normal"><span class="s2038610SCL">Source:</span><span xml:space="preserve" class="s2038610SCL-000003"> SL 2016, ch 63, § 2.</span></p></div></body></html>