ARSD § 64:06:01:35 — Required records for sales, rentals, and leases

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64:06:01:35. Required records for sales, rentals, and leases.
A seller, retailer, or person storing, using, or otherwise consuming in this
state tangible personal property or any product transferred electronically
purchased from a retailer and the lessor and lessee of tangible personal
property or any product transferred electronically for use in this state shall
keep complete records showing the following:
(1) Gross receipts from
sales or rental payments from leases of tangible personal property or any
product transferred electronically, including any services that are a part of
the sale or lease, made within South Dakota, whether the seller or lessor
regards the receipts as taxable or nontaxable;
(2) All deductions allowed
by law and claimed in filing returns; and
(3) The total purchase
price of all tangible personal property or any product transferred
electronically purchased for sale, consumption, or lease in South Dakota.
These records must include the normal
books of account ordinarily maintained by the average prudent business person
engaged in the activity in question, together with all bills, receipts,
invoices, cash register tapes, or other documents showing the original entries
supporting the entries in the books of account as well as all schedules or
working papers used in connection with the preparation of tax returns.