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§ 32-3-66 Certain motor home transport uses not deemed private business uses.

SD Codified L § 32-3-66 (2019) (N/A)
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32-3-66. Certain motor home transport uses not deemed private business uses. For the purposes of this chapter, if a motor home is used to transport a motor vehicle, boat, or animal to a race, tournament, show, or similar event, the motor home is not deemed to be engaged in a private business use if:

(1) Any prize money received from participating in such an activity is declared as ordinary income for tax purposes;

(2) The cost of participating in such an activity is not deducted as a business expense for tax purposes; and

(3) No corporate sponsorship exceeding two thousand dollars in any one calendar year is involved in participating in such an activity.Source: SL 2003, ch 163, § 2.

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