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2017 South Dakota Codified Laws
Title 10 - TAXATION
Chapter 43 - Income Tax On Banks And Financial Corporations
§ 10-43-24.1 Payroll factor.
Universal Citation: SD Codified L § 10-43-24.1 (2017)
10-43-24.1. Payroll factor. The payroll factor used in § 10-43-22.1 is a fraction, the numerator of which is the total amount paid in this state during the tax period by the financial institution for compensation, and the denominator of which is the total compensation paid everywhere during the tax period. Compensation does not include any payment to any independent contractor or any other person not classified as an employee.
Source: SL 1977, ch 96, § 9; SL 2014, ch 61, § 2, eff. Jan. 1, 2015; SL 2016, ch 62, § 9.
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