SDCL § 10-44-4 — Tax credit for principal office or regional home office

Any insurer subject to payment of tax provided for in § 10-44-2 , and which has in this state its principal office, or a regional home office as defined in § 10-44-5 , for over one - half the tax year is entitled to the following credits and deductions against such tax:
(1) An amount equal to fifty percent of the tax as determined under § 10-44-2 ; and
(2) An amount equal to ad valorem taxes or payments made in lieu of taxes paid by such insurer, whether direct or in the form of rent, on that proportion of the premises occupied as a principal or regional home office during the year next preceding the filing of its annual tax return.
However, in no event shall such credits and deductions reduce the amount of tax to less than thirty percent of the amount of the tax otherwise payable without the application of the credit provided by this section. Any insurer who qualifies for a credit pursuant to this section shall meet the requirements provided for in § 58-5-93 .