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State of South Dakota
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SEVENTY-EIGHTH
SESSION
LEGISLATIVE ASSEMBLY,
2003
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400I0276
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SENATE ENGROSSED
NO.
SB 35
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02/22/2003
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This bill has been extensively amended (hoghoused) and may no longer be consistent
with the original intention of the sponsor.
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Introduced by:
The Committee on Taxation at the request of the Department of Revenue
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FOR AN ACT ENTITLED, An Act to
exempt certain gross receipts from sales and use taxes.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section
1.
That chapter
10-45
be amended by adding thereto a NEW SECTION to read as
follows:
Any rebate, buy down, credit, or other payment received by a retailer from a manufacturer,
wholesaler, or other person who is not the purchaser of the sale of a product or service does not
constitute gross receipts subject to the tax imposed by this chapter.
Section
2.
That chapter
10-45
be amended by adding thereto a NEW SECTION to read as
follows:
Any payment, including money, credits, property, or other consideration from a wholesaler,
manufacturer, or other person for preferential display or placement of a service or a product does
not constitute gross receipts subject to the tax imposed by this chapter.
Section
3.
That chapter
10-46
be amended by adding thereto a NEW SECTION to read as
follows:
Any rebate, buy down, credit, or other payment received by a retailer from a manufacturer,
wholesaler, or other person who is not the purchaser of the sale of a product or service does not
constitute gross receipts subject to the tax imposed by this chapter.
Section
4.
That chapter
10-46
be amended by adding thereto a NEW SECTION to read as
follows:
Any payment, including money, credits, property, or other consideration from a wholesaler,
manufacturer, or other person for preferential display or placement of a service or a product does
not constitute gross receipts subject to the tax imposed by this chapter.