South Dakota Statutes
§ 10-46E-3 — Tax imposed on use, storage, and consumption of farm machinery, attachment units, and irrigation equipment not originally purchased for in-state use--Rate--Trade-ins--Exemption.
South Dakota·Title 10 TAXATION·Ch. 10-46D EXCISE TAX ON FARM MACHINERY, FARM ATTACHMENT UNITS, AND IRRIGATION EQUIPMENT
An excise tax is imposed at the same rate as imposed by § 10-46E-1 on the privilege of the use, storage, or consumption in this state of farm machinery, attachment units, and irrigation equipment used exclusively for agricultural purposes not originally purchased for use in this state, but thereafter used, stored, or consumed in this state, at the same rate as provided in § 10-46E-1 and imposed on the fair market value of the property at the time it is brought into this state. However, if any trade-in or exchange of used farm machinery, attachment units, and irrigation equipment is involved in the transaction, the excise tax is only due and may only be collected on the cash difference. The use, storage, or consumption of farm machinery, attachment units, and irrigation equipment used exclu
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South Dakota § 10-46E-3 (Tax imposed on use, storage, and consumption of farm machinery, attachment units, and irrigation equipment not originally purchased for in-state use--Rate--Trade-ins--Exemption.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
SL 2006, ch 58, § 3.
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
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