Section 10-40-26 - Valuation of property transferred--Debts and expenses of administration deducted. - South Dakota Statutes

10-40-26. Valuation of property transferred--Debts and expenses of administration deducted. The tax imposed by this chapter shall be computed upon the true and full market value in money of such property less any indebtedness, and expenses of administration, chargeable against such property, and at the rates prescribed in §§ 10-40-21 and 10-40-22 and only upon the amount in excess of the exemptions granted in § 10-40-23.

Source: SL 1915, ch 217, § 3; RC 1919, § 6829; SL 1919, ch 108; SDC 1939, § 57.2401; SL 1961, ch 445, § 1.