This bill amends South Dakota law by updating the reference to the "United States Internal Revenue Code" in section 10-1-47. The revised language specifies that the term refers to the Internal Revenue Code as amended and in effect on January 1, 2025. This change is applicable to several other sections and subdivisions within the state law, ensuring consistency in the references to the federal tax code across various legal contexts.

The bill aims to ensure that state law remains aligned with the most current version of the Internal Revenue Code, thereby facilitating accurate tax administration and compliance. By establishing a specific date for the code's applicability, the legislation provides clarity for taxpayers and tax professionals in South Dakota.

Statutes affected:
Introduced, 01/08/2025: 10-1-47
Enrolled, 02/11/2025: 10-1-47