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2017 South Dakota Codified Laws
Title 10 - TAXATION
Chapter 39A - Energy Minerals Severance Tax
§ 10-39A-14 Computation of tax due--Credit for tax prepaid.
Universal Citation: SD Codified L § 10-39A-14 (2017)
10-39A-14. Computation of tax due--Credit for tax prepaid. If a mineral subject to the severance tax is mined or extracted, the severance tax obligation shall be computed, in accordance with this chapter except that the prepaid severance tax shall be credited against the county share of the severance tax pursuant to subdivision 10-39A-8(1) which the person or corporation would have paid without a prepayment agreement. The tax credit shall cease when the amount of prepaid severance tax is equal to the county apportionment of severance tax due without a prepayment agreement.
Source: SL 1980, ch 88, ยง 3.
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