10-46B-4 Gross receipts defined--Items not deductible.
Gross receipts defined--Items not deductible.
For the purpose of this chapter, the
term, gross receipts, means the amount received in money, credits, property, or other money's worth
in consideration of the performance of realty improvement contracts within this state, without any
deduction on account of the cost of the property sold, the cost of materials used, the cost of services
or labor purchased, amounts paid for interest or discounts, or any other expenses whatsoever, nor
shall any deduction be allowed for losses.
Source: SL 1979, ch 84, § 12J; SDCL Supp, § 10-46A-4.