State of South Dakota  
EIGHTY-SEVENTH SESSION
LEGISLATIVE ASSEMBLY, 2012  

159T0751   HOUSE BILL   NO.  1256  

Introduced by:    Representatives Kloucek, Feickert, Schaefer, Schrempp, and Sigdestad and Senators Hundstad and Frerichs
 

        FOR AN ACT ENTITLED, An Act to repeal the contractor's excise tax.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
    Section 1. That § 10-46A-1 be repealed.
    10-46A-1. There is imposed an excise tax upon the gross receipts of all prime contractors engaged in realty improvement contracts, at the rate of two percent.
    Section 2. That § 10-46B-1 be repealed.
    10-46B-1. There is imposed an excise tax upon the gross receipts of all prime contractors and subcontractors engaged in realty improvement contracts for those persons subject to tax under chapter 10-28, 10-33, 10-34, 10-35, 10-36, or 10-36A or any municipal telephone company subject to chapter 9-41 or any rural water system, at the rate of two percent. Notwithstanding the provisions of this section, the tax imposed by this chapter does not apply to the construction of a power generation facility as defined by § 10-45B-1.
    Section 3. That §§ 10-46A-1.1 to 1046A-19, inclusive, be repealed.
    Section 4. That §§ 10-46B-1.1 to 1046B-18, inclusive, be repealed.

180 copies were printed on recycled paper by the South Dakota
Legislative Research Council at a cost of $.063 per page.   		.
   		Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by overstrikes.