Section 34A-14-20 - Payment of tax on property owned by authority not required--Obligations free fromtaxation. - South-dakota Statutes

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34A-14-20. Payment of tax on property owned by authority not required--Obligations free from taxation. The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state, and the authority is not required to pay any tax or assessment on any property owned by the authority under the provisions of this chapter, or upon the income therefrom; nor is the authority required to pay any transfer tax of any kind on account of instruments recorded by it or on its behalf.
Any obligations issued by the authority pursuant to this chapter, their transfer, and the income therefrom (including any profit made on the sale thereof), shall at all times be free from taxation by the state or any local unit or political subdivision or other instrumentality of the state.

Source: SL 1988, ch 290, § 59.

State Codes and Statutes

Statutes > South-dakota > Title-34a > Chapter-14 > Statute-34a-14-20

34A-14-20. Payment of tax on property owned by authority not required--Obligations free from taxation. The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state, and the authority is not required to pay any tax or assessment on any property owned by the authority under the provisions of this chapter, or upon the income therefrom; nor is the authority required to pay any transfer tax of any kind on account of instruments recorded by it or on its behalf.
Any obligations issued by the authority pursuant to this chapter, their transfer, and the income therefrom (including any profit made on the sale thereof), shall at all times be free from taxation by the state or any local unit or political subdivision or other instrumentality of the state.

Source: SL 1988, ch 290, § 59.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-34a > Chapter-14 > Statute-34a-14-20

34A-14-20. Payment of tax on property owned by authority not required--Obligations free from taxation. The exercise of the powers granted by this chapter will be in all respects for the benefit of the people of the state, and the authority is not required to pay any tax or assessment on any property owned by the authority under the provisions of this chapter, or upon the income therefrom; nor is the authority required to pay any transfer tax of any kind on account of instruments recorded by it or on its behalf.
Any obligations issued by the authority pursuant to this chapter, their transfer, and the income therefrom (including any profit made on the sale thereof), shall at all times be free from taxation by the state or any local unit or political subdivision or other instrumentality of the state.

Source: SL 1988, ch 290, § 59.