There is a newer version of this Section
2022
2021
2020
2019
2018
Other previous versions
View our newest version here

2017 Iowa Code
Title X - FINANCIAL RESOURCES
Chapter 423 - STREAMLINED SALES AND USE TAX ACT
Section 423.17 - Sourcing rules for various types of leased or rented equipment which is not transportation equipment.

Universal Citation: IA Code § 423.17 (2017)
Previous Next

Download as PDF
1 STREAMLINED SALES AND USE TAX ACT, §423.17 423.17 Sourcing rules for various types of leased or rented equipment which is not transportation equipment. The lease or rental of motor vehicles, trailers, semitrailers, or aircraft that do not qualify as transportation equipment, as defined in section 423.15, subsection 3, shall be sourced as follows: 1. For a lease or rental that requires recurring periodic payments, each periodic payment is sourced to the primary property location. The primary property location shall be as indicated by an address for the property provided by the lessee that is available to the lessor from its records maintained in the ordinary course of business, when use of this address does not constitute bad faith. This location shall not be altered by intermittent use at different locations. 2. For a lease or rental that does not require recurring periodic payments, the payment is sourced the same as a retail sale in accordance with the provisions of section 423.15, subsection 1. 3. This section does not affect the imposition or computation of sales or use tax on leases or rentals based on a lump sum or accelerated basis, or on the acquisition of property for lease. 2003 Acts, 1st Ex, ch 2, §110, 205 Referred to in §423.16, §423.57 Wed Feb 08 03:45:20 2017 Iowa Code 2017, Section 423.17 (12, 0)
Previous Next
Disclaimer: These codes may not be the most recent version. Iowa may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.