Iowa Admin. Code r. 701-285.4
Current through Regsiter Vol. 46, No. 26, June 12, 2024
Pursuant to the provisions of a chattel mortgage, the receipts from the sale of tangible personal property at a public auction shall be taxable even if the sale is made by virtue of a court decree of foreclosure by an officer appointed by the court for that purpose.
The tax applies to inventory and noninventory goods provided the owner is in the business of making retail sales of tangible personal property or taxable services. In Re Hubs Repair Shop, Inc. 28 B.R. 858 (Bkrtcy. 1983).
This rule is intended to implement Iowa Code sections 422.42, 422.43, 423.1 and 423.2.
Iowa Admin. Code r. 701-285.4