South Dakota § 10-45-92 - Allowable deductions for auctioneers.
Full text of South Dakota South Dakota Codified Laws § 10-45-92 — Allowable deductions for auctioneers., with citation guidance and answers to common questions.
§ 10-45-92. Allowable deductions for auctioneers.
In determining the amount of tax due under this chapter, auctioneers may deduct from gross receipts amounts which represent direct expense charges for clients for tangible personal property, any product transferred electronically, or services purchased by the auctioneer on behalf of a client. However, the sale of the property or service to the auctioneer is not a sale for resale if this deduction is taken. This deduction may only be taken if the amount to be deducted represents an expense specifically incurred for a particular client and the amount is itemized and paid from the client's auction proceeds by the auctioneer or closing agent. The deduction shall be disallowed if the auctioneer receives any profit or remuneration directly or indirectly from the client's expense.
Source: SL 1996, ch 84; SL 2008, ch 51, § 27.
Frequently Asked Questions About South Dakota § 10-45-92
What does South Dakota Codified Laws § 10-45-92 cover?
Section 10-45-92 ("Allowable deductions for auctioneers.") 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 § 10-45-92?
A common citation format is "South Dakota Codified Laws § 10-45-92" (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 § 10-45-92 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.