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57-38-24. Net losses - Meaning - Exceptions. Repealed by S.L. 1967, ch. 446, § 8. 57-38-25. Net loss as a deduction. Repealed by S.L. 1945, ch. 300, § 1. 57-38-26. Exemption for individuals. Repealed by S.L. 1967, ch. 446, § 8. 57-38-27. Exemption for fiduciaries. Repealed by S.L. 1967, ch. 446, § 8. 57-38-28. Time for fixing exemption status. Repealed by S.L. 1967, ch. 446, § 8. 57-38-29. Optional method of computing tax. Repealed by S.L. 2009, ch. 545, § 32. 57-38-29.1. Energy cost relief credit. Repealed by S.L. 1983, ch. 632, § 5; S.L. 1985, ch. 634, § 1. 57-38-29.2. Credit for premiums for long-term care insurance coverage. Repealed by S.L. 2009, ch. 545, § 32. 57-38-29.3. Credit for premiums for long-term care partnership plan insurance coverage. A credit against an individual's tax liability under this chapter is provided to each taxpayer in the amount of the premiums paid during the taxable year by the taxpayer for qualified long-term care partnership plan insurance coverage for the taxpayer or the taxpayer's spouse, or both. The credit under this section for each insured individual may not exceed two hundred fifty dollars in any taxable year. For purposes of this section, "qualified long-term care partnership plan" is one that: 1. Is a qualified long-term care insurance policy, as defined in section 7702B(b) of the Internal Revenue Code of 1986, with an issue date on or after the date specified in an approved Medicaid state plan amendment that provides for the disregard of assets; 2. Meets the requirements of the long-term care insurance model regulations and the long-term care insurance model act promulgated by the national association of insurance commissioners as adopted as of October 2000, or the insurance commissioner certifies that the policy meets those requirements; and 3. Is purchased by an individual who: a. Has not attained age sixty-one as of the date of purchase, if the policy provides compound annual inflation protection; b. Has attained age sixty-one but has not attained age seventy-six as of the date of purchase, if the policy provides some level of inflation protection; or c. Has attained age seventy-six as of the date of purchase. 57-38-30. Imposition and rate of tax on corporations. A tax is hereby imposed upon the taxable income of every domestic and foreign corporation which must be levied, collected, and paid annually as in this chapter provided: 1. For the first twenty-five thousand dollars of taxable income, at the rate of one and forty-one hundredths percent. 2. On all taxable income exceeding twenty-five thousand dollars and not exceeding fifty thousand dollars, at the rate of three and fifty-five hundredths percent. 3. On all taxable income exceeding fifty thousand dollars, at the rate of four and thirty-one hundredths percent. Page No. 31