“Good Faith” Acceptance of Exemption Form

[2013 | Keywords: Iowa Legislation, Sales Tax, Good Faith] We receive many phone calls from dealers regarding Iowa sales tax on ag equipment so I thought I would revisit a few areas of the law and/or Iowa Department of Revenue’s interpretation over the next few months. I’ll start with Good Faith (Iowa Code 422.47 (3) b & d). The sales tax liability for all sales of tangible personal property and all services is upon the seller and purchaser unless the seller takes in “good faith” from the purchaser a valid exemption certificate stating under penalties of perjury that the purchase… Read More »