Iowa Admin. Code r. 701-17.35
Current through Register Vol. 47, No. 10, November 13, 2024
On and after July 1, 2000, sales of livestock ear tags by a nonprofit organization, the income of which is exempt from federal taxation under Section 501 (c)(6) of the Internal Revenue Code, are exempt from tax if the proceeds of those sales are used in bovine research programs selected or approved by the nonprofit organization. For the purposes of this rule, the definition of "livestock" is found in subrule 17.9(1).
This rule is intended to implement Iowa Code Supplement section 422.45 as amended by 2000 Iowa Acts, chapter 1169.
Iowa Admin. Code r. 701-17.35