CHAPTER 51

(HB 1110)

Compensation paid to business for collecting the tax on behalf of the state.

         ENTITLED, An Act to  provide compensation to certain retailers for collecting and remitting the sales tax after a certain threshold is met.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:

     Section  1.  Any person required to file a return and remit the tax imposed by chapter 10-45 on a monthly basis and who timely files the return and pays the tax is allowed, as compensation for the expense of collecting and paying the tax monthly, a credit equal to one and one-half percent of the gross amount of the tax due. However, the credit may not exceed seventy dollars per month.

     Section  2.  When the balance in the tax relief fund exceeds ten million dollars, a collection allowance established pursuant to section 1 of this Act shall become effective the following July first.

     Veto Overridden. Filed March 22, 2006

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