Bill > SF606

This bill modifies Iowa's sales and use tax return filing requirements by mandating electronic filing for most businesses. Specifically, the bill requires businesses to file their monthly sales and use tax returns electronically, providing detailed information about sales prices, exempt sales, taxable sales, and tax calculations. The returns must be signed by the retailer or their authorized agent and certified as correct. The bill introduces a provision that allows businesses who cannot file electronically to request permission from the director to file by another method. Additionally, the bill stipulates that returns not filed in the specified electronic format will not be considered valid unless an exception is granted. The legislation also authorizes the department to adopt administrative rules to implement these changes. The bill is deemed of immediate importance and will take effect upon enactment, meaning businesses will need to adapt to the new electronic filing requirements promptly. This change aims to streamline tax reporting processes and potentially improve efficiency for both businesses and tax authorities.

Budget and Finance

Ways & Means (S)

https://www.legis.iowa.gov/legislation/BillBook?ga=91&ba=SF606