Iowa Department of Revenue proposes new rules

The Iowa Department of Revenue on Wednesday released a proposed rule related to the sales and use tax exemptions for Iowa’s manufacturers. The proposed, prospective rule does not address the current protests at the department, but does provide further guidance for manufacturers who are seeking clarity as to what is taxable and non-taxable. The language is partially in response to a petition for rulemaking from the Iowa Taxpayers Association with ABI as an affected party. To read the entire rule, click here. ABI staff is receiving input and analyzing the rule at this time and will have additional information in the coming days.