10-45-111. Relief from liability for failing to collect tax at new rate--Conditions.

121 words·~1 min read·/sd/title-10/chapter-10-45/10-45-111

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A retailer is relieved of any liability for failing to collect a tax pursuant to this chapter at a new effective rate if the state fails to provide a period of at least thirty days between enactment of the statute providing for a rate change and the effective date of the rate change if:

(1)The retailer collected the tax at the immediately preceding effective rate; and

(2)The retailer's failure to collect at the newly effective rate does not extend beyond thirty days after the date of enactment of the new rate.

This section does not apply if the retailer fraudulently failed to collect the tax at the new rate or solicited purchasers based on the immediately preceding effective rate.