Department of Revenue Rules Released for Comment
August 16, 2018
The Iowa Department of Revenue has provided ABI with draft rules in light of the passage of tax reform legislation last session. The draft rules redefine who is a manufacturer versus a retailer, and what is excluded from sales tax as a manufacturing process and what is not. Facilities such as paint supply stores, grocery stores and other retailers that previously qualified for sales tax exemptions on certain processes may no longer be eligible under the rule for sales tax exemption. In addition to the manufacturing definition changes, the department has also provided us draft rules regarding the research activities tax credit. If you are interested in seeing a copy of the rules and providing feedback, please contact Nicole Crain. Please send feedback to ABI by August 24.