South Dakota Administrative Rules — Title 64 (Revenue)

ARSD § 64:06:02:50 — Pawnbrokers

lrpr14533
lrpr14296
2
0
2008-09-08T19:16:00Z
2008-09-08T19:16:00Z
1
149
852
State of South Dakota
7
1
1000
10.6839
Clean
Clean
MicrosoftInternetExplorer4
64:06:02:50. Pawnbrokers . As used in this section,
"pawnbroker" means a person who is primarily engaged in the business
of lending money and who accepts tangible personal property or any product
transferred electronically as security for the loan. If the property is
redeemed within a specified time, sales tax applies to any commission, storage
fees, or other similar charges made by the pawnbroker. If payment is not made
within the specified time, the property is forfeited to the pawnbroker, to whom title to the property passes. If the pawn broker
thereafter sells the property at retail, the gross receipts are subject to
sales tax.

Last amended: Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 15 SDR 58, effective October 19, 1988; 21 SDR 219, effective July 1, 1995; 22 SDR 6, effective July 23, 1995; 22 SDR 43, effective October 1, 1995; 35 SDR 48, effective September 8, 2008. General Authority: SDCL 10-45-47.1. Law Implemented: SDCL 10-45-2 , 10-45-2.4 , 10-45-12.1.

Source: official text