State Codes and Statutes

Statutes > South-dakota > Title-55 > Chapter-09 > Statute-55-9-6

55-9-6. Restrictions to avoid taxability of income--Definition of terms. Terms as used in §§ 55-9-6 to 55-9-14, inclusive shall have the following meaning:
(1) "Charitable trust," as defined in section 4947 (a)(1) of the Internal Revenue Code;
(2) "Excess business holdings," as defined in section 4943 (c) of the Internal Revenue Code;
(3) "Internal Revenue Code," the United States Internal Revenue Code of 1954, as amended;
(4) "Private foundation," as defined in section 509 (a) of the Internal Revenue Code;
(5) "Self-dealing," as defined in section 4941 (d) of the Internal Revenue Code;
(6) "Split-interest," as defined in section 4947 (a)(2) of the Internal Revenue Code;
(7) "Taxable expenditure," as defined in section 4945 (d) of the Internal Revenue Code;
(8) "Trustee," a corporation, individual, or other legal entity acting as an original, added, or successor trustee of a testamentary or inter vivos trust estate, whichever in a particular case shall be appropriate.

Source: SL 1972, ch 259, § 1.