South Dakota Updates IRC Conformity

An IRC conformity bill was signed updating South Dakota’s bank franchise (income), property, and sales and use tax federal conformity date to the most recent version of the federal Internal Revenue Code (IRC). The IRC conformity date is now January 1, 2019 (previously, January 1, 2018) for the:

– bank franchise tax;

– sales and use taxes; and

– for certain property tax provisions.

H.B. 1015, Laws 2019, effective July 1, 2019

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CCHTaxGroup

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