32-5B-1.2. Leasing or rental company separate from dealership--Distinct name--Daily rental operations--Exemption from excise tax.Any leasing or rental company which operates within the principal place of business of a dealer, licensed pursuant to chapter 32-6B, is a business separate from the dealership for the purposes of this chapter. A leasing company shall title, license, and tax any leased vehicle which is leased for more than twenty-eight days in a name that is distinct and separate from that of the dealership name as indicated on the dealer license under chapter 32-6B. If the lessee is a rental company leasing vehicles for use in a daily rental operation, neither the lessor nor the lessee is required to pay the excise tax. In order to be exempt, the rental company shall be indicated on the title as the lessee. A rental company shall title and license any rental vehicle which is rented for twenty-eight days or less which is part of the rental company in a name that is distinct and separate from that of the dealership name as indicated on the dealer license under chapter 32-6B. Source: SL 1986, ch 248, §3; SL 1988, ch 246; SL 1993, ch 219, §7; SL 1994, ch 245, §4.
South Dakota Legal Code