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Can you summarize SDCL 42-7B-31?
Limited Card Games, Slot Machines, Craps, Roulette, And Keno > Failure to file--Penalties.
Short Summary
This legal document pertains to the filing of returns or reports for Limited Card Games, Slot Machines, Craps, Roulette, And Keno in South Dakota. Any person required to file returns or reports under this chapter must do so within fifteen days following the due date. Failure to file on time will result in a penalty equal to fifteen percent of the tax or ten dollars, whichever is greater. The executive secretary may reduce or eliminate the penalty for reasonable cause shown. Additionally, failure to pay the tax within the prescribed time will result in an interest charge of two percent per month or part thereof. Penalty and interest are treated the same as tax for collection and enforcement purposes. Payments received are applied first to tax, then to interest, and finally to penalty. The executive secretary may establish a maximum interest rate of thirty-six percent for delinquent taxes caused by a mistake of law and not by an intent to evade the tax.
Whom does it apply to?
Any person required to file returns or reports under this chapter
What does it govern?
Limited Card Games, Slot Machines, Craps, Roulette, And Keno
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
An additional amount, assessed as a penalty, equal to fifteen percent of the tax or ten dollars whichever is greater for failure to file a return or report on time. An interest charge of two percent per month or part thereof for late payment of taxes.
Jurisdiction
South Dakota