10-50-7. Transactions constitutionally exempt from taxation.
Nothing contained in this chapter shall be construed to impose a tax on any transaction the taxation of which by this state is prohibited by the Constitution of the United States.
Source: SL 1937, ch 243, §5; SDC 1939, §57.3905; SL 1949, ch 422, §1; SL 1951, ch 452, §3; SL 1955, ch 416; SL 1959, ch 442, §1; SL 1963, ch 446, §1; SL 1965, ch 293, §1.