10-44-1. Definition of terms. Terms used in this chapter mean: (1)”Company,” any corporation, association, reciprocal or inter-insurance exchange, and any other organization whatsoever, whether foreign or domestic, transacting business in South Dakota under the insurance laws of this state, as insurer, indemnitor, or surety; (2)”Consideration for annuity contracts,” the gross amount of consideration received by […]
10-44-1.1. Rules of director of insurance. The director of the Division of Insurance may make reasonable rules to administer or interpret the provisions of this chapter to include, but not be limited to, definition of terms. Source: SL 1982, ch 110, §4.
10-44-15. Payment of fire insurance tax proceeds into firemen’s pension fund. Any municipality of the first class having a paid fire department with three or more full-time members shall be required to pay over the money so received as provided by §9-16-23. Source: SL 1951, ch 456, §4; SL 1957, ch 469; SL 1959, ch […]
10-44-16. Penalty on unpaid taxes and installments–Refunds. All taxes and installments not paid when due shall be paid together with a penalty assessment on the unpaid balance at the rate of one and one-half percent per month, or fraction thereof. The Division of Insurance may refund any penalty or interest paid in error. Upon written […]
10-44-2. Tax levied on premiums and consideration for annuities–Time of payment–Overpayment refund or credit–Rates. Any company doing insurance business in this state shall pay a tax at the rates specified in this section. The tax shall be paid to the Division of Insurance at the time the company files its annual statement, or, if no […]
10-44-2.1. Applicability of tax on premiums and consideration for annuities. The provisions of §10-44-2 and this section shall be retroactive to July 1, 2001, and shall apply to any premium tax for any life insurance policy with an annual premium exceeding one hundred thousand dollars and to any annuity with an annual consideration exceeding five […]
10-44-2.2. Premium tax on travel insurance–Tax allocation and reporting. An insurer shall pay premium tax as provided in §10-44-2 on travel insurance premiums paid by: (1)An individual primary policyholder who is a resident of this state; (2)A primary certificate holder who is a resident of this state who elects coverage under a group travel insurance […]
10-44-3. Farm mutual insurers and fraternal benefit societies exempt from tax. Farm mutual insurers organized and operating under chapter 58-35 and fraternal benefit societies organized, licensed, or operating under chapter 58-37A are hereby declared to constitute a distinct and separate classification of insurance companies and shall be exempt from the tax imposed by this chapter. […]
10-44-4. Tax credit for principal office or regional home office. Any insurer subject to payment of tax provided for in §10-44-2, and which has in this state its principal office, or a regional home office as defined in §10-44-5, for over one-half the tax year is entitled to the following credits and deductions against such […]
10-44-5. Functions of regional home office and principal office–Rules. A regional home office, for the purposes of §10-44-4, means an office performing, for an area covering one or more states, the following functions: the marketing, claims, underwriting, and policyholder servicing. A regional home office may also perform the following functions: actuarial; medical (where required); law; […]
10-44-6. Proof of maintenance of principal office or regional home office and payment of ad valorem taxes–Certificate allowing tax credit. Any insurer claiming the credits and deductions provided by §10-44-4 shall furnish satisfactory proof by March first of each year, on forms to be prescribed by the director of the Division of Insurance, that the […]
10-44-7. Payment required for certificate permitting continuance in business. The director of the Division of Insurance may not issue a certificate permitting a company to continue doing business in this state until payment of the tax imposed by §10-44-2. Source: SL 1951, ch 456, §2; SL 1955, ch 413; SL 1959, ch 210; SDC Supp […]
10-44-8. Exemption of taxpayer from other taxes. Each company required to pay a tax under this chapter is exempt from all other taxes, state and local, except taxes upon real property as may be owned by the company and the retail sales tax and the use tax on tangible personal property and any product transferred […]
10-44-9. Additional tax levied on fire insurance premiums. Every insurance company doing fire insurance business in this state, including a fire reciprocal insurer under chapter 58-34, shall pay in addition to the tax set forth in §10-44-2 one-half of one percentum of the gross premium receipts of such company on all fire insurance business done […]
10-44-9.1. Determining amount of fire insurance premium tax–Distribution. On July fifteenth of each year, the secretary of the Department of Labor and Regulation shall determine the amount of fire insurance premium tax collected by the state under the provisions of §§10-44-2 and 10-44-9 for the previous calendar year. Ten percent of the tax collected pursuant […]
10-44-9.2. Fire departments eligible for tax distribution certified annually by department. Any fire department which was formed at least one year prior to making application, which has not less than fifteen members and one fire truck with pumper housed in a heated building, and which has complied with §34-29B-9 shall be certified annually on or […]
10-44-9.4. Allocation to counties–Amount. On or about July fifteenth of each year, the secretary of public safety shall send to each county auditor a list of certified county fire departments and a warrant in an amount equal to one-half of the amount appropriated pursuant to §10-44-9.1, times the ratio of the assessed valuation of the […]
10-44-9.5. Allocation to fire departments serving county–Amount. Upon receipt of the funds as provided in §10-44-9.4 each county auditor shall determine the amount to be received by each certified fire department servicing the county, including those domiciled outside the county. All the funds received shall be divided one-half in the same ratio as the assessed […]
10-44-9.6. Payments to fire departments–Uses of money–Accumulation of funds–Reallocation if fire department ceases to exist–Unused balance to general fund. After the allocation of funds as provided in §10-44-9.5, the county shall pay over to each of the certified fire departments servicing the county the amount of money determined to be their share under §10-44-9.5. The […]
