South Dakota Administrative Rules
Title 64 - REVENUE
Article 64:01 - Administration
Chapter 64:01:01 - Administration of department
Section 64:01:01:51 - Effect of maintaining machine-sensible records on hard-copy recordkeeping requirements

Universal Citation: SD Admin Rules 64:01:01:51
Current through Register Vol. 50, page 114, March 25, 2024

Except as otherwise provided in §§ 64:01:01:42 to 64:01:01:51, inclusive, the provisions of this section do not relieve taxpayers of the responsibility to retain hard-copy records that are created or received in the ordinary course of business as required by existing law and regulations.

Hard-copy records generated at the time of a transaction using a credit card or debit card must be retained unless all the details necessary to determine correct tax liability relating to the transaction are subsequently received and retained by the taxpayer in accordance with this regulation.

Computer printouts that are created for validation, control, or other temporary purposes need not be retained.

Nothing in this section prevents the department from requesting hard-copy printouts in lieu of retained machine-sensible records at the time of examination.

General Authority: SDCL 10-45-47.1(4), 10-45D-13(4), 10-46-35.1(4), 10-46A-19(4), 10-46B-18(4), 10-46E-11(4), 10-47B-2, 10-52A-7(4).

Law Implemented: SDCL 10-45-45, 10-45D-12, 10-46-39, 10-46A-7, 10-46B-6, 10-46E-8, 10-47B-157, 10-52A-6.

Disclaimer: These regulations may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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