Excise tax on purchase of any large boat--In lieu of sales tax--Violation as misdemeanor

In addition to all other fees, a person shall pay an excise tax at the rate of three percent on the purchase price of any large boat, purchased or acquired for use on the waters of this state and required to be registered under the laws of this state. This tax shall be in lieu of any tax levied by chapters 10-45 and 10-46 on the sales of such large boats. Failure to pay the full amount of excise tax is a Class 1 misdemeanor. Source: SL 1993, ch 102, § 1; SL 1994, ch 335, § 3; SDCL 10-60-1 .