ARSD § 64:06:01:17 — Federal corporations, sales to

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64:06:01:17. Federal corporations, sales to. Federal land
banks, federal deposit insurance corporations, commodity credit corporations,
federal farm mortgage corporations, reconstruction finance corporations,
American National Red Cross, and federal credit unions are exempt from sales or
use tax on purchases.
This exemption does not extend to
sales to or purchases of tangible personal property or any product transferred
electronically for the personal use of officials, members, or employees of such
institutions or to sales to or purchases of tangible personal property used in
the operation of a taxable retail business.