Text: SF00115 Text: SF00117 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN
1 1 Section 1. Section 422.45, Code 1999, is amended by adding
1 2 the following new subsection:
1 3 NEW SUBSECTION. 55. The gross receipts from the sales of
1 4 tangible personal property or from the rendering or furnishing
1 5 of services to a nonprofit organization which tangible
1 6 personal property or services are used solely for the
1 7 appropriate objects of the nonprofit organization. For
1 8 purposes of this exemption, a nonprofit organization is one
1 9 whose income is exempt from federal taxation under section
1 10 501(c)(3) the Internal Revenue Code.
1 11 EXPLANATION
1 12 The bill exempts from the state sales and use taxes the
1 13 sale of tangible personal property and services to nonprofit
1 14 organizations whose income is exempt from federal taxation.
1 15 LSB 1951SS 78
1 16 mg/sc/14
Text: SF00115 Text: SF00117 Text: SF00100 - SF00199 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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