Governor Signs Bill which provides an Exemption from Registration Fees for Certain New, Completed Motor Vehicles Purchased by an Equipment Dealer for Modification and Resale

[2014 | Keywords: Iowa Legislation, Sales Tax, Registration] BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: Section 1. Section 321.48, Code 2014, is amended by adding the following new subsection: NEW SUBSECTION. 3A. A transferee of a new completed motor vehicle shall obtain a certificate of title for the vehicle but is not required to pay the annual registration fee for the vehicle, provided all of the following apply: a. The transferee is an equipment dealer licensed as a motor vehicle dealer under chapter 322. b. The transferee purchases the vehicle at retail for the purpose… Read More »