ARSD § 64:06:01:02 — Bond

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64:06:01:02. Bond . A cash bond endorsed in the name of
the department or a bond issued by a corporate surety company authorized to do
business in South Dakota in an amount sufficient to guarantee payment of tax
for a six-month period is required from retailers engaged in business within
the state of South Dakota in the following circumstances:
(1) A taxpayer is
delinquent in either reporting or paying tax for two reporting periods in any
twelve-month period;
(2) A taxpayer is engaged
in a type of business which, in the experience of the department, has had
problems with tax delinquency; or
(3) A taxpayer does not
have sufficient unencumbered assets in this state to ensure that a possible
future delinquent tax liability is collected.
If a taxpayer has no prior history of
tax payment, the amount of the bond is based upon the taxpayer's estimate of
gross receipts in a six-month period, provided that the taxpayer's estimate is
determined by the department to approximate known receipts of similar businesses.