64:07:01:02Gross

receipts explained. Gross receipts includes the total amount received in consideration of the performance of a realty improvement contract without deductions for any expenses. If a contractor chooses to include the amount of the tax in the contract price, this amount may not be deducted in determining taxable receipts. For purposes of SDCL chapter 10-46B, gross receipts does not include any internal charges or allocations among or between a parent telecommunications company subject to tax under SDCL chapter 10-33 and any wholly-owned subsidiaries thereof or between two subsidiaries that are both wholly owned by the same parent company if the recipient of the services is a telecommunications company subject to tax under SDCL chapter 10-33.

Source: 6 SDR 44, effective November 8, 1979; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995; 33 SDR 226, effective June 27, 2007.