SDCL § 10-33-21 — Companies providing local exchange telephone service taxed on gross receipts--Rate--Minimum tax

Each telephone company engaged in furnishing and providing telephone and exchange service comprising rental and toll service by means of wired circuits and otherwise shall be taxed on the basis of gross receipts at the rate of four percent. This tax does not apply to any company that does not provide local exchange telephone service to patrons.
However, no telephone company operating in this state may be taxed less than an amount equal to fifty cents per year per telephone serviced.