64:26:01:01Definitions.
Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗
Terms used in this article mean: (1) "Department," the Department of Revenue and Regulation; (2) "Secretary," the secretary of revenue and regulation; (3) "Principal place of business," the place from which the taxpayer manages the main part of its business operations, transacts its principal affairs, or conducts its greatest volume of business operations; (4) "Net federal income tax," that federal income tax in excess of any federal income tax refund received during the tax year for which the deduction is claimed; (5) "Non-arm's length transaction," a transaction between two or more related corporations consumated at a consideration which is more or less than the amount that would have been charged in an independent transaction between unrelated corporations under similar circumstances.
Source: SL 1975, ch 16, § 1; 4 SDR 35, effective December 22, 1977; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995; 30 SDR 58, effective November 5, 2003.