Bill > HF2641

This bill makes several changes related to state taxation and related laws, including: - Expanding the definition of "return" under the tax code to include certain moneys and credits tax returns. - Allowing the Department of Revenue to enter into agreements with fairs to collect and remit taxes from sales on fair property. - Modifying penalty provisions related to failure to timely file tax returns or deposit forms. - Allowing the Department of Revenue to disclose certain tax return information under certain circumstances. - Expanding the period for examination and determination of taxes in certain cases. - Establishing new requirements and procedures for reporting and treatment of federal partnership adjustments. - Providing for the subtraction of global intangible low-taxed income and disallowing the deduction of certain business interest expense for state tax purposes. - Making changes related to the sales and use tax, including provisions related to taxation of preserve whitetail hunting, contractor sales tax exemptions, and taxation of computer peripherals. - Modifying various provisions related to income taxes, including changes to the research activities credit, tax return preparer requirements, and tax treatment of Paycheck Protection Program loan forgiveness. - Establishing new special "flying our colors" registration plates for motor vehicles. The bill also contains numerous other provisions related to state and local taxes, fees, and administration.

Budget and Finance

Ways and Means (H)

https://www.legis.iowa.gov/legislation/BillBook?ga=88&ba=HF2641