The Briefing Room
General Category => National/Breaking News => Topic started by: Oceander on April 02, 2014, 09:10:31 pm
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FoxNews
Iowa scrambles to keep millions from tax that didn’t exist (http://www.foxnews.com/politics/2014/04/02/iowa-scrambles-to-keep-millions-from-tax-that-didnt-exist/?intcmp=trending)
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.
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You deserve the government you elect.
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Iowa is the Vermont of the midwest...
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You deserve the government you elect.
but does one elect the government one deserves?