The corporation described in § 47-22-68.2 shall distribute for each of its taxable years amounts at least sufficient to avoid liability for the tax imposed by section 4942(a) of the Internal Revenue Code.
S.D. Codified Laws § 47-22-68.4
Distributions required of foundation
Known as the South Dakota Nonprofit Corporation Act
The act spans §§ 47–47 (90 sections).
Source: SL 1972, ch 244, § 2 (1).
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.