Author Topic: Iowa scrambles to keep millions from tax that didn’t exist  (Read 165 times)

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Offline Oceander

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Iowa scrambles to keep millions from tax that didn’t exist
« on: April 02, 2014, 05:10:31 PM »
FoxNews

Iowa scrambles to keep millions from tax that didn’t exist

By Paul Brennan
Published April 02, 2014

For six years, Iowa has collected more than $20 million for a tax that didn’t exist.

When questioned about it, the Legislature adopted the solution preferred by small children who’ve done something wrong — they pretended it never happened.

In 2008, the Legislature passed a bill that accidentally included language repealing the section of the tax code that imposed a sales tax on heavy machinery purchased in the state. No one noticed until last summer, when a lawyer contacted the Iowa Department of Revenue seeking clarification about the tax.

Faced with the possibility of having to refund more than $20 million collected for a nonexistent tax, not to mention losing an estimated $7 million in taxes a year going forward, lawmakers passed a bill Thursday reinstating the tax and making it retroactive to the date of its accidental repeal.

The governor is expected to sign it.

Offline Chieftain

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Re: Iowa scrambles to keep millions from tax that didn’t exist
« Reply #1 on: April 02, 2014, 05:13:36 PM »
You deserve the government you elect.


Offline Fishrrman

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Re: Iowa scrambles to keep millions from tax that didn’t exist
« Reply #2 on: April 02, 2014, 08:52:36 PM »
Iowa is the Vermont of the midwest...

Offline Oceander

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Re: Iowa scrambles to keep millions from tax that didn’t exist
« Reply #3 on: April 02, 2014, 09:38:12 PM »
You deserve the government you elect.



but does one elect the government one deserves?


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