Receipts from securities used to maintain reserves against deposits included in numerator.

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10-43-25.6. Receipts from securities used to maintain reserves against deposits included in numerator.

Notwithstanding the provisions of §10-43-25.5, receipts from securities used to maintain reserves against deposits to meet federal and state reserve requirements shall be included in the numerator specified in §10-43-25.1 based on the ratio that the deposits in South Dakota bear to total deposits everywhere during the tax period.

Source: SL 1977, ch 96, §15 (1); SL 2014, ch 61, §10, eff. Jan. 1, 2015.


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