Iowa Admin. Code r. 701-273.2

Current through Register Vol. 47, No. 11, December 11, 2024

Rule 701-273.2 - New state tax revenue calculations

(1)State sales tax. For districts established before July 1, 2020, the department will calculate the state sales tax revenues as described in Iowa Code section 15J.5(1)"b"(1). For those established on or after July 1, 2020, the calculations are as described in Iowa Code section 15J.5(1)"b"(2).

(2)State hotel and motel tax. For districts established before July 1, 2020, the department will calculate the state hotel and motel tax revenues as described in Iowa Code section 15J.5(2)"b"(1). For those established on or after July 1, 2020, the calculations are as described in Iowa Code section 15J.5(2)"b"(2).

(3)Identification of new retail establishments and lessors. Each municipality that has established a district under Iowa Code chapter 15J must notify the department of new retail establishments and lessors in the district that are created as soon as possible. This process shall be ongoing until the municipality ceases to utilize state sales tax revenue or state hotel and motel tax revenue under this chapter or the district is dissolved.

This rule is intended to implement Iowa Code sections 15J.5, 423.2(11) and 423A.6.

Iowa Admin. Code r. 701-273.2

ARC 8166C, IAB 7/24/24, effective 8/28/24