S.D. Admin. R. 64:01:01:44
Machine-sensible records used to establish tax compliance shall contain sufficient transaction-level detail information so that the details underlying the machine-sensible records can be identified and made available to the department upon request. Sufficient transaction-level detail includes, at a minimum, vendor name, invoice date, product description, quantity, price, amount and type of tax, and shipping information. A taxpayer may discard duplicate records and redundant information provided its responsibilities under this chapter are met.
At the time of an examination, the retained records must be capable of being retrieved and converted to a standard record format that facilitates use of the records by the department during an examination.
A taxpayer that does not create the electronic equivalent of a traditional paper document in the ordinary course of business is not required to construct such a record for tax purposes.
S.D. Admin. R. 64:01:01:44
General Authority: SDCL 10-45-47.1(4), 10-45D-13(4), 10-46-35.1(4), 10-46A-19(4), 10-46B-18(4), 10-46E-11(4), 10-47B-2, 10-52A-7(4).
Law Implemented: SDCL 10-45-45, 10-45D-12, 10-46-39, 10-46A-7, 10-46B-6, 10-46E-8, 10-47B-157, 10-52A-6.