South Dakota Administrative Rules — Title 64 (Revenue)

ARSD § 64:27:01:01 — Definitions

Terms used in this chapter mean:
(1) "Ultimate sale," an arm's length
transaction between equal bargaining parties at a price which accurately
reflects the fair market value of products at the time of the sale.

Last amended: Source: 2 SDR 21, effective September 18, 1975; 5 SDR 60, effective January 25, 1979; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995. General Authority: SDCL 10-39-49. Law Implemented: SDCL 10-39-42 , 10-39-44. Rule 64:27:01:01.01 Gross yields defined. 64:27:01:01.01. Gross yields defined. Gross yields are all gains, incomes, receipts, and profits derived from the sale of minerals and mineral products produced in South Dakota. All amounts shall be included in

Source: official text