The secretary shall demand a consolidated return when it is established that a taxpayer has engaged in non-arm's length transactions which cause a material distortion in net income.

Source: 4 SDR 35, effective December 22, 1977; 13 SDR 129, 13 SDR 134, effective July 1, 1987.

General Authority: SDCL 10-43-42.1.

Law Implemented: SDCL 10-43-36.