There is a newer version of the South Dakota Codified Laws
2011 South Dakota Code
Title 10 TAXATION
Chapter 04. Property Subject To Taxation
§10-4-39 Exemption of facility operated as a multi-tenant business incubator.
SD Codified L § 10-4-39 (through 2011) What's This?
10-4-39. Exemption of facility operated as a multi-tenant business incubator. Any facility operated as a multi-tenant business incubator and owned by an entity recognized as an exempt nonprofit corporation pursuant to section 501(c)(3), 501(c)(4), or 501(c)(6) of the Internal Revenue Code as amended and in effect on January 1, 2011, is exempt from property taxation. A business incubator is any facility that supports the development and operation of a number of small start-up businesses. Tenants of the facility may share a number of support services and the tenants may receive technical assistance, business planning, legal, financial, and marketing advice. If any portion of the facility is occupied by an incubated business for more than five years, that portion of the facility shall be taxed as other property of the same class is taxed.
Source: SL 2006, ch 37, § 1; SL 2009, ch 39, § 5; SL 2010, ch 45, § 5; SL 2011, ch 48, § 5.
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