2017 Iowa Code Title X - FINANCIAL RESOURCES Chapter 422 - INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES Section 422.12D - Income tax checkoff for the Iowa state fair foundation fund.
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INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES, §422.12D
422.12D Income tax checkoff for the Iowa state fair foundation fund.
1. A person who files an individual or a joint income tax return with the department of
revenue under section 422.13 may designate one dollar or more to be paid to the foundation
fund of the Iowa state fair foundation as established in section 173.22. If the refund due on the
return or the payment remitted with the return is insufficient to pay the amount designated by
the taxpayer to the foundation fund, the amount designated shall be reduced to the remaining
amount of the refund or the remaining amount remitted with the return. The designation of
a contribution to the foundation fund under this section is irrevocable.
2. The director of revenue shall draft the income tax form to allow the designation of
contributions to the foundation fund on the tax return. The department, on or before January
31, shall transfer the total amount designated on the tax form due in the preceding year to the
foundation fund. However, before a checkoff pursuant to this section shall be permitted, all
liabilities on the books of the department of administrative services and accounts identified
as owing under section 8A.504 and the political contribution allowed under section 68A.601
shall be satisfied.
3. The Iowa state fair board may authorize payment from the foundation fund for purposes
of supporting foundation activities.
4. The department of revenue shall adopt rules to implement this section.
5. This section is subject to repeal under section 422.12E.
2014 Acts, ch 1141, §59, 61, 62
Referred to in §173.22, §422.16
Limitation on number of income tax return checkoffs; automatic repeal of certain checkoffs; see §422.12E
Section takes effect July 1, 2014, and applies retroactively to January 1, 2014, for tax years beginning on or after that date; 2014 Acts,
ch 1141, §62
For repeal of former section 422.12D, effective July 1, 2014, and retroactive to January 1, 2014, for tax years beginning on or after that
date, see 2014 Acts, ch 1141, §61, 62
Wed Feb 08 03:44:45 2017
Iowa Code 2017, Section 422.12D (19, 0)
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