South Dakota Statutes
§ 10-4-39 — Exemption of facility operated as a multi-tenant business incubator.
Any facility operated as a multi-tenant business incubator and owned by an entity recognized as an exempt nonprofit corporation pursuant to section 501(c)(3), 501(c)(4), or 501(c)(6) of the United States Internal Revenue Code, as defined by § 10-1-47 , is exempt from property taxation. A business incubator is any facility that supports the development and operation of a number of small start-up businesses. Tenants of the facility may share a number of support services and the tenants may receive technical assistance, business planning, legal, financial, and marketing advice. If any portion of the facility is occupied by an incubated business for more than five years, that portion of the facility shall be taxed as other property of the same class is taxed.
Free access — add to your briefcase to read the full text and ask questions with AI
South Dakota § 10-4-39 (Exemption of facility operated as a multi-tenant business incubator.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2006, ch 37, § 1; SL 2009, ch 39, § 5; SL 2010, ch 45, § 5; SL 2011, ch 48, § 5; SL 2012, ch 59, § 5; SL 2013, ch 42, § 5; SL 2014, ch 54, § 5; SL 2015, ch 62, § 5; SL 2016, ch 54, § 6.
Nearby Sections
15
§ 10-1-1.1
, 10-1-2§ 10-1-13
General functions of secretary.§ 10-1-13.1
Interstate agreements for administration of excise and income taxes--Exchange of information.§ 10-1-15
General supervision of assessment of property for taxation--Forms--Classification of property.§ 10-1-16
Advice and direction to directors of equalization and boards--Instructional meetings of directors.§ 10-1-16.1
Standard real estate appraisal manual.