Section 32-3-66 - Certain motor home transport uses not deemed private business uses. - South Dakota Statutes

32-3-66. Certain motor home transport uses not deemed private business uses. For the purposes of this chapter, if a motor home is used to transport a motor vehicle, boat, or animal to a race, tournament, show, or similar event, the motor home is not deemed to be engaged in a private business use if:
(1) Any prize money received from participating in such an activity is declared as ordinary income for tax purposes;
(2) The cost of participating in such an activity is not deducted as a business expense for tax purposes; and
(3) No corporate sponsorship exceeding two thousand dollars in any one calendar year is involved in participating in such an activity.

Source: SL 2003, ch 163, § 2.