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§ 10-47B-35 Distribution of amount retained for administrative expenses.

SD Codified L § 10-47B-35 (2019) (N/A)
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10-47B-35. Distribution of amount retained for administrative expenses. The amount that the supplier, ethanol producer, or ethanol broker is permitted to retain under § 10-47B-34 shall be distributed by the supplier, out-of-state supplier, ethanol producer, or ethanol broker as follows:

(1) One-third retained by the supplier, out-of-state supplier, ethanol producer, or ethanol broker to help off-set the administrative expense of timely reporting and remitting of tax;

(2) Two-thirds to the wholesale distributor, retail dealer, or end user who withdraws fuel from the terminal at the rack to help off-set the cost of fuel lost due to shrinkage caused by evaporation or temperature change.Source: SL 1995, ch 71, § 35; SL 2010, ch 66, § 9.

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§ 10-47B-34 Percentage allowed to be retained to off-set administrative expenses of timely reporting.
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§ 10-47B-36 Retention of administrative expenses not allowed for late reporting or remittance of tax.