Does the July 1, 2018 Sales and Use Tax change impact you and your customers?

State of Iowa Local Option Sales Tax (LOST) rate was effective July 1, 2018 in several counties. While some counties are participating in the changes, not all cities within the county are included in the increase. Along with the LOST tax, there have been several other changes to tax rates.

Anyone selling taxable goods or services from an Iowa location must obtain a sales tax permit.

 

Proper handling of your Sales and Use tax is sometimes complicated and confusing, but none-the-less, very important to your business and your customers. Occasionally classes, most often convenient webinars, are offered. Currently due to recent tax changes, classes are being updated and will be offered soon. Other options to obtain information is via Chat with a representative, contact them at 515-281-3114 or 800-367-3388 from 8 a.m. - 4:15 p.m. CT or email. You may also find these online references useful.

Be sure your software is handling sales tax correctly. Your Bookkeeper will help to prevent your company from developing improper sales tax procedures. Hiring an Expert will safeguard the process so you are collecting, reporting and paying sales tax accurately and timely per the State requirements.