ARSD § 64:26:01:01 — Definitions

Terms used in this article mean:
(1) "Department," the Department of
Revenue and Regulation;
(2) "Secretary," the secretary of
revenue and regulation;
(3) "Principal place of business," the
place from which the taxpayer manages the main part of its business operations,
transacts its principal affairs, or conducts its greatest volume of business
operations;
(4) "Net federal income tax," that
federal income tax in excess of any federal income tax refund received during the
tax year for which the deduction is claimed;
(5) "Non-arm's length transaction," a
transaction between two or more related corporations consumated
at a consideration which is more or less than the amount that would have been
charged in an independent transaction between unrelated corporations under
similar circumstances.