South Dakota § 55-1B-13 - Tax trust advisor--Powers and discretions.
Full text of South Dakota South Dakota Codified Laws § 55-1B-13 — Tax trust advisor--Powers and discretions., with citation guidance and answers to common questions.
§ 55-1B-13. Tax trust advisor--Powers and discretions.
The powers and discretions of a tax trust advisor must be as provided in the governing instrument and may be exercised or not exercised, in the best interests of the trust, in the sole and absolute discretion of the tax trust advisor and are binding on any other person and any other interested party, fiduciary, and excluded fiduciary. In addition to the powers and discretions granted to the tax trust advisor in the governing instrument, the tax trust advisor may also exercise any of the following powers and discretions to the extent the exercise is not prohibited under the terms of the governing instrument:
(1) Direct the trustee with respect to tax matters related to the trust, including tax elections, tax returns to be filed, positions to be taken on tax returns, tax payments to be made, and the anticipated tax impact to the trust or a beneficiary of any transaction involving the trust, including:
(a) The retention, purchase, sale, exchange, or tender of any asset of the trust;
(b) Any contribution to or distribution from the trust: or
(c) Any contribution to or distribution from an entity owned by the trust;
(2) Direct the trustee to rely on any tax information received pursuant to § 55-2-23;
(3) Select one or more tax advisors to prepare tax returns or other related filings;
(4) Direct the trustee to sign and file tax returns;
(5) Direct the trustee with respect to any additional powers and discretions over tax-related matters provided in the governing instrument; and
(6) Direct the trustee as to any tax-related powers referenced in chapter 55-1A.
Source: SL 2025, ch 196, § 5.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 55-1B-13
What does South Dakota Codified Laws § 55-1B-13 cover?
Section 55-1B-13 ("Tax trust advisor--Powers and discretions.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 55-1B-13?
A common citation format is "South Dakota Codified Laws § 55-1B-13" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 55-1B-13 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.