10-44-8 Exemption of taxpayer from other taxes.
Exemption of taxpayer from other taxes.
Each company required to pay a tax under
this chapter is exempt from all other taxes, state and local, except taxes upon real property as may
be owned by the company and the retail sales tax and the use tax on tangible personal property and
any product transferred electronically. An insurance policy or annuity contract is considered
intangible personal property for the purposes of this section.
Source: SL 1951, ch 456, § 5; SDC Supp 1960, § 57.35A05; SL 1983, ch 356, § 7; SL 1992, ch 80,
§ 209; SL 2008, ch 51, § 69.