Net income defined

SDCL § 10-43-10.1 — under INCOME TAX ON BANKS AND FINANCIAL CORPORATIONS.

SDCL § 10-43-10.1

Net income, in the case of a financial institution, is taxable income as defined in the United States Internal Revenue Code, as defined by § 10-1-47 , and reportable for federal income tax purposes for the taxable year, but subject to the adjustments as provided in §§ 10-43-10.2 and