Statutes, codes, and regulations
Iowa Administrative Code
Agency 701 - REVENUE DEPARTMENTTitle III - SALES, USE, AND EXCISE TAX
Chapter 210 - PURCHASES BY BUSINESSES
Rule 701-210.3 - Tangible personal property and specified digital products purchased for resale but incidentally consumed by the purchaser

Iowa Admin. Code r. 701-210.3

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Current through Register Vol. 47, No. 11, December 11, 2024
Rule 701-210.3 - Tangible personal property and specified digital products purchased for resale but incidentally consumed by the purchaser

A retailer engaged in the business of selling tangible personal property or specified digital products who takes merchandise from stock for personal use, consumption, or gifts shall report these items as "goods consumed" on the sales and use tax return and remit sales tax and any applicable local option sales tax on the purchase cost of the items. This rule does not authorize purchase for resale of items intended to be used by the retailer.

This rule is intended to implement Iowa Code section 423.2.

Iowa Admin. Code r. 701-210.3

ARC 8155C, IAB 7/24/24, effective 8/28/24