South Dakota § 10-43-10.5 Carryforward of net operating losses deductible.

South Dakota Statutes

§ 10-43-10.5 — Carryforward of net operating losses deductible.

South Dakota § 10-43-10.5

Title 10TAXATION

Ch. 10-43INCOME TAX ON BANKS AND FINANCIAL CORPORATIONS

This text of South Dakota § 10-43-10.5 (Carryforward of net operating losses deductible.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 10-43-10.5 (2026).

Text

A deduction may be made for a carryforward of a net operating loss. The deduction is limited to the seven tax years immediately following the tax year of the loss. Net income may not be less than zero prior to making the adjustments provided for in §§ 10-43-10.2 and 10-43-10.3 because of a deduction taken for losses not incurred during the tax year for which the return is being filed. The provisions of this section only apply to net operating losses incurred on or after January 1, 2015.

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A deduction may be made for a carryforward of a net operating loss. The deduction is limited to the seven tax years immediately following the tax year of the loss. Net income may not be less than zero prior to making the adjustments provided for in §§ 10-43-10.2 and 10-43-10.3 because of a deduction taken for losses not incurred during the tax year for which the return is being filed. The provisions of this section only apply to net operating losses incurred on or after January 1, 2015.