Iowa – Proposed Sales Tax Exemptions

SALT Report 3729 – A proposal that could authorize millions of dollars in sales tax exemptions for Iowa manufacturers will get another hearing after lawmakers considered the measure Tuesday October 13, 2015. The proposed rule change by the Department of Revenue would increase the number of items used in manufacturing that are exempt from some taxes under state law. According to a fiscal impact summary submitted by the Revenue Department at the meeting, the changes would result in about $349 million in tax reductions over the next five years.

For further Information:

http://www.desmoinesregister.com/story/news/politics/2015/10/13/committee-considers-millions-sales-tax-exemptions/73886154/