State officials working to prevent further mistakes in handling bank taxes

     PIERRE, S.D. (AP) - South Dakota officials say they are working to prevent further mistakes in handling state taxes paid by banks.
     The Department of Legislative Audit found the state Revenue Department sometimes made mistakes in determining whether tax payments were for credit card operations or general banking operations. Because taxes on credit cards and other bank operations are divided differently between the state and local governments, money was sometimes distributed improperly.
     Mike Houdyshell of the state Revenue Department says the tax money eventually was distributed correctly. He says bank taxes sometime next year will be run through an electronic system that will prevent problems and provide better information on whether taxes are being paid on credit card income or regular banking operations.

Filed Under :  
Topics : Business_Finance
Locations : South Dakota
People : Mike Houdyshell
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