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The Iowa Department of Revenue has updated the Iowa Tax Research Library. A brief document summary of the addition follows. Visit the What's New section to access the full documents.
Date Updated: 05-02-2022
Tax Type: Sales & Use Tax
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MARION COUNTY FAIR ASSOCIATION d/b/a KNOXVILLE RACEWAY (PWR) (2022)
Iowa Code section 423.4(11), implemented by Iowa Administrative Code rule 701—235.3, allows a qualifying automobile racetrack facility to apply and obtain a rebate of the sales tax imposed and collected by retailers permitted to make sales within the facility for the facility's use in reinvestment and improvement projects. To obtain the rebate, a facility must timely file the requisite information and documentation with the department. The Petitioner, a qualified racetrack facility, requested a waiver of Iowa Administrative Code rules 701—235.3(4) and 235.3(5) in order to obtain the rebate from untimely filed and incomplete forms. The Director determined that rules 235.3(4) and 235.3(5) are not discretionary and, therefore, are not within his delegated authority to waive. As a result, the Director denied the facility's petition for waiver.
The mission of the Iowa Department of Revenue is to serve Iowans and support state government by collecting all taxes required by law, but no more.
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