Section 10-40-2 - Tax imposed--Transfers subject to tax. - South Dakota Statutes

10-40-2. Tax imposed--Transfers subject to tax. A tax shall be imposed upon any transfer of property, real, personal, or mixed, or any interest therein or income therefrom, in trust or otherwise, to any person, association, or corporation except a county, township, or municipal corporation, within the state, for strictly county, township, or municipal purposes, in the following cases:
(1) When the transfer is by will or by intestate laws of this state from any person dying possessed of the property while a resident of the state;
(2) When a transfer is by will or intestate law, of property within the state or within its jurisdiction and the decedent was a nonresident of the state at the time of his death;
(3) When the transfer is of property made by a resident or by a nonresident when such nonresident's property is within this state, or within its jurisdiction, by deed, grant, bargain, sale, or gift, made in contemplation of the death of the grantor, vendor, or donor, or intended to take effect in possession or enjoyment at or after such death.
(4) Intangible personal property owned by a nonresident of South Dakota is not subject to the tax imposed by this section. Intangible personal property held by a revocable or irrevocable trust, which property was transferred to the trust by a decedent who was a nonresident of South Dakota both at the time that such property was transferred to the trust and at the time of death is not subject to the tax imposed by this section. Nothing contained in this subdivision may be construed to alter or affect existing laws concerning transfers by residents of South Dakota.

Source: SDC 1939, § 57.2104; SL 2000, ch 57, § 2.