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House Amendment 4042

Amendment Text

PAG LIN
  1  1    Amend House File 569 as follows:
  1  2    #1.  Page 1, by inserting after line 4 the
  1  3 following:
  1  4    "Sec.    .  Section 423.2, Code 1995, is amended to
  1  5 read as follows:
  1  6    423.2  IMPOSITION OF TAX.
  1  7    An excise tax is imposed on the use in this state
  1  8 of tangible personal property purchased for use in
  1  9 this state, at the rate of five percent of the
  1 10 purchase price of the property.  An excise tax is
  1 11 imposed on the use of leased vehicles at the rate of
  1 12 five percent of the amount otherwise subject to tax as
  1 13 calculated pursuant to section 423.7A, subsection 2.
  1 14 The excise tax is imposed upon every person using the
  1 15 property within this state until the tax has been paid
  1 16 directly to the county treasurer or the state
  1 17 department of transportation, to a retailer, or to the
  1 18 department.  An excise tax is imposed on the use in
  1 19 this state of services enumerated in section 422.43 at
  1 20 the rate of five percent.  This tax is applicable
  1 21 where services are rendered, furnished, or performed
  1 22 in this state or where the product or result of the
  1 23 service is used in this state.  This tax is imposed on
  1 24 every person using the services or the product of the
  1 25 services in this state until the user has paid the tax
  1 26 either to an Iowa use tax permit holder or to the
  1 27 department."
  1 28    #2.  By renumbering as necessary.  
  1 29 
  1 30 
  1 31                              
  1 32 HALVORSON of Clayton
  1 33 HF 569.701 76
  1 34 js/sc
     
Text: H04041                            Text: H04043
Text: H04000 - H04099                   Text: H Index
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