Text: HF02466 Text: HF02468 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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PAG LIN 1 1 Section 1. Section 422.51, subsection 1, Code 1995, is 1 2 amended to read as follows: 1 3 1. Each person subject to sections 422.52 and 422.53 and 1 4 in accordance withthe provisions thereofthose sections 1 5 shall, on or before the last day of the month following the 1 6 close of each calendar quarter during whichsuchthe person is 1 7 or has become or ceased being subject to the provisions of 1 8suchthose sections, make, sign, and file a return forsuch1 9 the calendar quarter insuchthe form as may be required. 1 10SuchThe returns shall show information relating to gross 1 11 receipts including goods, wares, and services converted to the 1 12 use ofsuchthe person, the amounts of gross receipts excluded 1 13 and exempt from the tax, the receipts subject to tax, a 1 14 calculation of tax due less the amount retained pursuant to 1 15 section 422.52, subsection 9, andsuchother information for 1 16 the period covered by the return as may be required. Persons 1 17 required to file, or committed to file by reason of voluntary 1 18 action or by order of the department, monthly deposits of 1 19 taxes due under this division shall be entitled to take credit 1 20 against the total quarterly amount of tax duesuchthe amount 1 21 as shall have been deposited bysuchthe persons duringsuch1 22 the calendar quarter. The balance remaining due aftersuch1 23 credit for monthly deposits, less the amount retained pursuant 1 24 to section 422.52, subsection 9, shall be entered on the 1 25 return; provided, however, that such. However, the person may 1 26 be granted an extension of time not exceeding thirty days for 1 27 filingsuchthe quarterly return, upon a proper showing of 1 28 necessity therefor.If suchIn order for the extension to be 1 29 grantedsuch, the personshallmust have paid by the twentieth 1 30 day of the month following the close ofsuchthe quarter 1 31 ninety percent of the estimated tax due. 1 32 Sec. 2. Section 422.52, subsection 1, Code 1995, is 1 33 amended to read as follows: 1 34 1. The tax levied under this division is due and payable 1 35 in quarterly installments on or before the last day of the 2 1 month following each quarterly period except as otherwise 2 2 provided in this subsection. Every retailer who collects more 2 3 than four thousand dollars in retail sales tax in a 2 4 semimonthly period shall deposit with the department or in a 2 5 depository authorized by law and designated by the director, 2 6 the amount collected, less the amount retained under 2 7 subsection 9, or an amount equal to not less than one-sixth of 2 8 the tax collected and paid to the department during the 2 9 preceding quarter, with a deposit form for the semimonthly 2 10 period as prescribed by the director. The first semimonthly 2 11 deposit form is for the period from the first of the month 2 12 through the fifteenth of the month and is due on or before the 2 13 twenty-fifth day of the month. The second semimonthly deposit 2 14 form is for the period from the sixteenth through the end of 2 15 the month and is due on or before the tenth day of the month 2 16 following the month of collection. A deposit is not required 2 17 for the last semimonthly period of the calendar quarter. The 2 18 total quarterly amount, less the amount deposited for the five 2 19 previous semimonthly periods, is due with the quarterly report 2 20 on the last day of the month following the month of 2 21 collection. A retailer who collects more than five hundred 2 22 dollars in retail sales taxes in one month and not more than 2 23 four thousand dollars in retail sales taxes in a semimonthly 2 24 period shall deposit with the department or in a depository 2 25 authorized by law and designated by the director, the amount 2 26 collected, less the amount retained under subsection 9, or an 2 27 amount equal to not less than one-third of the tax collected 2 28 and paid to the department during the preceding quarter, with 2 29 a deposit form for the month as prescribed by the director. 2 30 The deposit form is due on or before the twentieth day of the 2 31 month following the month of collection, except a deposit is 2 32 not required for the third month of the calendar quarter and 2 33 the total quarterly amount, less the amounts deposited for the 2 34 first two months of the quarter, is due with the quarterly 2 35 report on the last day of the month following the month of 3 1 collection. Every retailer who collects more than fifty 3 2 dollars and not more than five hundred dollars in retail sales 3 3 tax in one month shall deposit with the department or in a 3 4 depository authorized by law and designated by the director, 3 5 the amount collected, less the amount retained under 3 6 subsection 9, or an amount equal to not less than one-third of 3 7 the tax collected and paid to the department during the last 3 8 preceding quarter, with a deposit form for the month as 3 9 prescribed by the director. The deposit form is due on or 3 10 before the twentieth day of the month following the month of 3 11 collection, except a deposit is not required for the third 3 12 month of the calendar quarter and the total quarterly amount, 3 13 less the amounts deposited for the first two months of the 3 14 quarter, is due with the quarterly report on the last day of 3 15 the month following the month of collection. The monthly 3 16 remittance procedure is optional for any sales tax permit 3 17 holder whose average monthly collection of tax amounts to more 3 18 than twenty-five dollars and less than fifty dollars. If the 3 19 exact amounts of the taxes due or an amount equal to not less 3 20 than one-third or one-sixth, as applicable, of the tax 3 21 collected and paid to the department during the last preceding 3 22 quarter on the deposit form are not ascertainable by the 3 23 retailer, or would work undue hardship in the computation of 3 24 the taxes due by the retailer, the director may provide by 3 25 rules alternative procedures for estimating the amounts (but 3 26 not the dates) due by the retailers. The forms prescribed by 3 27 the director shall be referred to as "retailers semimonthly 3 28 tax deposit" or "retailers monthly tax deposit". Deposit 3 29 forms shall be signed by the retailer or the retailer's duly 3 30 authorized agent, and shall be duly certified by the retailer 3 31 or agent to be correct. The director may authorize 3 32 incorporated banks and trust companies or other depositories 3 33 authorized by law which are depositories or financial agents 3 34 of the United States, or of this state, to receive any tax 3 35 imposed under this chapter, in the manner, at the times and 4 1 under the conditions the director prescribes. The director 4 2 shall prescribe the manner, times, and conditions under which 4 3 the receipt of the tax by those depositories is to be treated 4 4 as payment of the tax to the department. 4 5 Sec. 3. Section 422.52, Code 1995, is amended by adding 4 6 the following new subsection: 4 7 NEW SUBSECTION. 9. A retailer who timely files a deposit 4 8 form and the remittance due the department under this section 4 9 is entitled to retain five percent of the amount of tax col- 4 10 lected. 4 11 Sec. 4. Section 423.13, Code 1995, is amended by adding 4 12 the following new unnumbered paragraph: 4 13 NEW UNNUMBERED PARAGRAPH. A retailer who timely files a 4 14 deposit form and the remittance due the department under this 4 15 section is entitled to retain five percent of the amount of 4 16 the tax collected. 4 17 Sec. 5. This Act applies to sales, services, and use taxes 4 18 collected after the effective date of this Act. 4 19 EXPLANATION 4 20 The bill allows a retailer to retain 5 percent of the sales 4 21 and use taxes collected if the tax deposit forms and tax due 4 22 are timely filed. The bill applies to taxes collected after 4 23 the effective date of this bill. 4 24 LSB 3544HH 76 4 25 mg/jw/5
Text: HF02466 Text: HF02468 Text: HF02400 - HF02499 Text: HF Index Bills and Amendments: General Index Bill History: General Index
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