423D.2 Tax imposed.
73 words·~1 min read·
/ia/chapter-423d-equipment-tax/423d-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A tax of five percent is imposed on the sales price or purchase price of all equipment sold or used in the state of Iowa. This tax shall be collected and paid over to the department by any retailer, retailer maintaining a place of business in this state, or user who would be responsible for collection and payment of the tax if it were a sales or use tax imposed under chapter 423.