ARSD § 64:01:01:38 — Duties of direct payment permit holders

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64:01:01:38. Duties of direct payment permit holders. The
holder of a direct payment permit shall furnish a copy of the direct payment
permit or other acceptable evidence to each vendor from whom the holder
purchases tangible personal property, products transferred electronically, or
services. Acceptable evidence must show the holder's direct payment permit
number. Any business who holds a direct payment permit is not required to pay
the tax as prescribed in SDCL chapter 10-45 except on certain transactions not permitted as listed in § 64:01:01:37.
The holder of a direct payment permit
shall have responsibility for accruing and paying tax directly to the
department on each taxable transaction not taxed at the time of purchase. The
holder must maintain accounting records in sufficient detail to show in
summary, and in respect to each transaction, the amount of sales or use taxes
paid to vendors in each reporting period.