13-65-3.1. Tax credits reducing quarterly payments.
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/sd/title-13/chapter-13-65/13-65-3-1A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Any company may claim a premium tax credit as provided in § 13-65-2 to reduce quarterly payments required by § 10-44-2 . Claims for tax credits on quarterly payments shall be reported to the Division of Insurance on a form prescribed by the director. Pursuant to § 13-65-8 , a company must report the amount and specify, at the time of contribution, the quarter to which the premium tax credit shall be applied. No tax credit claimed under this section may reduce a quarterly payment otherwise required by § 10-44-2 to an amount less than zero. A company shall report all reductions in quarterly payments pursuant to this section on its annual premium tax return.