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Important Tax Changes Taking Effect July 1

Important Tax Changes Taking Effect July 1

June 28, 2022

Important Tax Changes Taking Effect July 1

I wanted to let you know about a recently enacted change to Iowa’s sales and use tax permits, return filings, and tax payments that take effect July 1, 2022, which may impact your business. The changes include:

Taxpayers will report sales and use tax on the same return and will only need one permit for both sales and use tax.
Taxpayers will either file and pay monthly or annually, depending on the amount of tax collected.
Monthly returns must be filed and the tax must be paid electronically.
Semimonthly deposit payments are no longer required.

Please visit the Department of Revenue’s guidance page to learn more about these changes, the new combined tax return, and answers to common questions about Sales and Use Tax Permit, Return Filing, and Payment Changes.

Topics:

Taxes

State:

Iowa

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