This bill updates South Dakota's tax laws to reference the federal Internal Revenue Code as it existed on January 1, 2021, instead of January 1, 2020. The change affects six tax code sections and five tax subdivisions that rely on federal tax definitions, ensuring South Dakota's tax rules align with the most current federal tax law. In practical terms, this means South Dakota taxpayers will follow tax rules based on the newer version of federal tax law.
AI-generated summary
Delivered to the Governor S.J. 140
Signed by the Governor S.J. 140
Signed by the Speaker H.J. 159
Signed by the President S.J. 137
House of Representatives Do Pass Passed, YEAS 69, NAYS 1. H.J. 141
Taxation Certified uncontested, placed on consent H.J. 1
Taxation Do Pass Passed, YEAS 13, NAYS 0. H.J. 1
Taxation Scheduled for hearing H.J. 1
First read in House and referred to House Taxation H.J. 110
Senate Do Pass Passed, YEAS 34, NAYS 0. S.J. 88
Taxation Certified uncontested, placed on consent S.J. 1
Taxation Do Pass Passed, YEAS 7, NAYS 0. S.J. 1
Taxation Scheduled for hearing S.J. 1
First read in Senate and referred to Senate Taxation S.J. 18
Taxation — Do Pass
Taxation — Do Pass