Information for businesses from the
This presentation is the property of its rightful owner.
Sponsored Links
1 / 8

Information for businesses from the PowerPoint PPT Presentation


  • 88 Views
  • Uploaded on
  • Presentation posted in: General

State Excise Tax on Certain Construction Equipment. Information for businesses from the. What is Meant by “Certain Construction Equipment?”. self-propelled building equipment; pile drivers; motorized scaffolding;

Download Presentation

Information for businesses from the

An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -

Presentation Transcript


Information for businesses from the

State Excise Tax on Certain

Construction Equipment

Information for businesses

from the


What is meant by certain construction equipment

What is Meant by “Certain Construction Equipment?”

  • self-propelled building equipment;

  • pile drivers;

  • motorized scaffolding;

  • auxiliary attachments which improve the performance, safety, operation, or efficiency of the equipment; and

  • replacement parts.


What is the state excise tax rate

What Is the State Excise Tax Rate?

The rate is 5% on the purchase of this certain construction equipment, and applies everywhere in the State of Iowa.


Are there any exemptions from the excise tax

Are There Any Exemptions From the Excise Tax?

Yes.

The lease or rental of equipment to contractors for direct and primary use in construction is exempt from the tax.


Is this certain construction equipment subject to sales tax and local option sales tax

Is This Certain Construction Equipment Subject to Sales Tax and Local Option Sales Tax?

No.

It is not subject to Iowa sales tax or local option tax.


Do i need a special permit to collect the excise tax

Do I Need a Special Permit to Collect the Excise Tax?

No.

The state sales or use tax permit is the only permit required.


How do i report and pay the excise tax

How Do I Report and Pay the Excise Tax?

  • The excise tax on certain construction equipment is reported and paid to the State of Iowa along with the state sales or use tax.

  • Retailers show a breakdown of the excise tax on their sales or use tax quarterly returns.

  • Tax returns are filed electronically through the Department’s online service eFile & Pay.


Questions

Questions?

  • Call us: 8 a.m. - 4:15 p.m. CT

    515-281-3114 or

    1-800-367-3388 (Iowa, Omaha, Rock Island, Moline)

  • E-mail us at [email protected]


  • Login