There is a newer version
of
this Section
2017 South Dakota Codified Laws
Title 10 - TAXATION
Chapter 43 - Income Tax On Banks And Financial Corporations
§ 10-43-10.5 Carryforward of net operating losses deductible.
Universal Citation: SD Codified L § 10-43-10.5 (2017)
10-43-10.5. Carryforward of net operating losses deductible. A deduction may be made for a carryforward of a net operating loss. The deduction is limited to the seven tax years immediately following the tax year of the loss. Net income may not be less than zero prior to making the adjustments provided for in §§ 10-43-10.2 and 10-43-10.3 because of a deduction taken for losses not incurred during the tax year for which the return is being filed.
The provisions of this section only apply to net operating losses incurred on or after January 1, 2015.
Source: SL 2014, ch 60, § 4, eff. Jan. 1, 2015; SL 2016, ch 62, § 8.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
