<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 61-5A-6 - Election by nonprofit organization to make payments in lieu of contributions--Minimum period of election. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2077969Normal { 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.s2077969SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077969CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2077969Normal-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.s2077969DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077969DefaultParagraphFont-000001 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077969000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2077969SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2077969SCL-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="s2077969Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=61-5A-6"><span class="s2077969SENU">61-5A-6</span></a><span xml:space="preserve" class="s2077969SENU">. </span><span class="s2077969CL">Election by nonprofit organization to make payments in lieu of contributions--Minimum period of election.</span></p><p dir="ltr" class="s2077969Normal-000000"><span class="s2077969DefaultParagraphFont">Any nonprofit organization which is, or becomes, subject to this title on January 1, 1972 may elect to become liable for payments in lieu of contributions for a period of not less than two taxable years beginning with January 1, 1972 provided it files with the department a written notice of its election within the thirty</span><span class="s2077969DefaultParagraphFont-000001">-</span><span class="s2077969DefaultParagraphFont">day period immediately following such date.</span></p><p dir="ltr" class="s2077969Normal"><span xml:space="preserve" class="s2077969000002"> </span></p><p dir="ltr" class="s2077969Normal"><span class="s2077969SCL">Source:</span><span xml:space="preserve" class="s2077969SCL-000003"> SL 1971, ch 276, § 52.</span></p></div></body></html>