An annual tax is hereby imposed on each financial institution doing business in this state or licensed to do business in this state during any part of its tax year.
S.D. Codified Laws § 10-43-2
Tax imposed on financial institutions
Applied in 2 court decisions — leading case Citibank, N.A. v. South Dakota Department of Revenue (2015)
Most recently applied in U.S. Bank National Assoc. v. S.D. Dept of Revenue (October 2022)
Source: SL 1939, ch 263, §§ 3, 4; SDC Supp 1960, §§ 57.30A03, 57.30A04; SDCL § 10-43-3; SL 1977, ch 96, § 2; SL 2016, ch 62, § 2.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.