Section 10-43-29.1 - Alternative apportionment methods available.
10-43-29.1. Alternative apportionment methods available. If the apportionment methods included in §§ 10-43-22.1 to 10-43-25.7, inclusive, do not fairly represent the financial institution's net income in this state, the financial institution may petition for, or the secretary may require, pursuant to criteria established by rule promulgated pursuant to chapter 1-26, with respect to all or any part of the taxpayer's business activity:
(1) Separate accounting;
(2) The exclusion of any one or more of the factors;
(3) The inclusion of one or more additional factors which will fairly represent the taxpayer's business activity in this state; or
(4) The employment of any other method to effectuate an equitable allocation and apportionment of the taxpayer's taxable income.
Source: SL 1935, ch 205, § 15-a; SDC 1939, § 57.2707; SDCL, § 10-43-29; SL 1977, ch 96, § 16; SL 1987, ch 82, § 19.