South Dakota Administrative Rules
Title 64 - REVENUE
Article 64:27 - Mineral tax
Chapter 64:27:01 - Mines and mining
Section 64:27:01:16 - Limitations of deductions

Universal Citation: SD Admin Rules 64:27:01:16
Current through Register Vol. 50, page 114, March 25, 2024

Deductions allowed in SDCL 10-39-45.2(6) are limited to expenditures incurred in production activities in this state.

General Authority: SDCL 10-39-49.

Law Implemented: SDCL 10-39-45.2(6).

Declaratory Ruling: The formula for determining net profit for mineral extraction tax on profit of minerals extracted in-state and shipped out-of-state for processing, where N = net profit, G = total gross yield, AS = in-state administrative costs and salaries, TS = South Dakota state and local taxes, CS = allowable costs incurred in-state, CO = allowable costs incurred out-of-state, and GS = gross yield from South Dakota minerals, is as follows:

N = GS - (AS + TS + CS) - CO x GS

G

Secretary of Revenue Declaratory Ruling No. 77-9.

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.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.