Iowa Admin. Code r. 701-17.15

Current through Register Vol. 47, No. 10, November 13, 2024

Rule 701-17.15 - Demurrage charges

Charges for returning tangible personal property after the agreed-upon date which are true demurrage charges supported by a written agreement do not constitute taxable sales and are exempt from tax.

This rule is intended to implement Iowa Code section 422.43.