Partnertax.ai
Start free trial →

South Dakota Administrative Rules — Title 64 (Revenue)

ARSD § 64:06:01:09

Conditional sales contracts -- Assigned and repossessed merchandise

Official textsdlegislature.gov

lrpr14533 lrpr14296
2
0
2007-06-25T18:02:00Z
2007-06-27T13:20:00Z
2007-06-27T13:20:00Z
1
206
1176
State of South Dakota
9
2
1380
10.6830
Clean
MicrosoftInternetExplorer4
64:06:01:09. Conditional sales contracts -- Assigned and repossessed merchandise. If conditional sales contracts are assigned or negotiated by the retailer to a finance company, sales tax must be paid by the retailer on the full amount of the purchase price under the contract at the time the retailer makes the required tax remittance for the reporting period in which the sale was made.
If repossession by the finance company becomes necessary, the retailer may deduct as a bad debt, as provided in SDCL 10-45-30 , that portion of the tax previously paid, provided that in liquidation of the repossessed merchandise the retailer has actually suffered a loss and the gross receipts prove to be less than anticipated under the original contract price.
If the merchandise repossessed is later sold by the retailer to a consumer, the tax applies to the second sale the same as it did to the first sale.

Last amended: Source: SL 1975, ch 16, § 1; 5 SDR 60, effective January 25, 1979; 7 SDR 80, effective February 22, 1981; 12 SDR 111, effective January 12, 1986; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 16 SDR 76, effective November 1, 1989; 21 SDR 219, effective July 1, 1995; 25 SDR 167, effective July 1, 1999; 28 SDR 178, effective July 1, 2002; 33 SDR 226, effective June 27, 2007. General Authority: SDCL 10-45-47.1(2). Law Implemented: SDCL 10-45-1(10) , 10-45-2 , 10 -45-30. Rule 64:06:01:09.01 Sale a

Source: view the official text

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
In this chapter (40 sections)
  1. 64:04:01:33 · Transferred
  2. 64:04:01:34 · Transferred
  3. 64:04:01:35 · Transferred
  4. 64:05:01:01 · Definitions
  5. 64:05:01:02 · Directors to record sales information
  6. 64:05:01:03 · Sales proven unusable to be mailed to department
  7. 64:05:01:04 · Repealed
  8. 64:05:01:05 · Real estate sales cards and mobile home sales cards to…
  9. 64:05:01:06 · Time for filing
  10. 64:05:01:07 · Repealed
  11. 64:05:01:08 · Sales included in analysis
  12. 64:06:01:00 · Definitions
  13. 64:06:01:01 · Armed services personnel and veterans
  14. 64:06:01:02 · Bond
  15. 64:06:01:03 · Repealed
  16. 64:06:01:04 · Repealed
  17. 64:06:01:05 · Change in ownership
  18. 64:06:01:06 · Casual or occasional sales
  19. 64:06:01:07 · Issuance and use of permits restricted
  20. 64:06:01:08 · Exemption certificates
  21. 64:06:01:09 · Conditional sales contracts -- Assigned and repossessed…
  22. 64:06:01:10 · Consignment sales
  23. 64:06:01:11 · Repealed
  24. 64:06:01:12 · Defective merchandise
  25. 64:06:01:13 · Religious educational institutions
  26. 64:06:01:14 · Repealed
  27. 64:06:01:15 · Exemption certificates
  28. 64:06:01:16 · Repealed
  29. 64:06:01:17 · Federal corporations, sales to
  30. 64:06:01:18 · Repealed
  31. 64:06:01:19 · Fire and ambulance departments
  32. 64:06:01:20 · Forms
  33. 64:06:01:21 · Certain organizations not exempt from sales or use tax
  34. 64:06:01:22 · Repealed
  35. 64:06:01:23 · Intrastate sales -- Sale and delivery in South Dakota
  36. 64:06:01:24 · Interstate sales -- Originating in South Dakota
  37. 64:06:01:25 · Interstate sales -- Originating in other states
  38. 64:06:01:26 · Repealed
  39. 64:06:01:27 · Repealed
  40. 64:06:01:28 · Repealed
Full table of contents →