Bill Text: IA SF112 | 2015-2016 | 86th General Assembly | Introduced

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Bill Title: A bill for an act exempting investment counseling services from the state sales tax.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2015-02-03 - Subcommittee, Quirmbach, Breitbach, and Dotzler. S.J. 207. [SF112 Detail]

Download: Iowa-2015-SF112-Introduced.html

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Senate File 112 - Introduced




                                 SENATE FILE       
                                 BY  ZAUN

                                      A BILL FOR

  1 An Act exempting investment counseling services from the state
  2    sales tax.
  3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA:
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PAG LIN



  1  1    Section 1.  Section 423.2, subsection 6, paragraph a, Code
  1  2 2015, is amended to read as follows:
  1  3    a.  The sales price of any of the following enumerated
  1  4 services is subject to the tax imposed by subsection
  1  5 5:  alteration and garment repair; armored car; vehicle
  1  6 repair; battery, tire, and allied; investment counseling;
  1  7  service charges of all financial institutions, excluding
  1  8 service charges for investment counseling; barber and beauty;
  1  9 boat repair; vehicle wash and wax; campgrounds; carpentry;
  1 10 roof, shingle, and glass repair; dance schools and dance
  1 11 studios; dating services; dry cleaning, pressing, dyeing, and
  1 12 laundering; electrical and electronic repair and installation;
  1 13 excavating and grading; farm implement repair of all kinds;
  1 14 flying service; furniture, rug, carpet, and upholstery
  1 15 repair and cleaning; fur storage and repair; golf and country
  1 16 clubs and all commercial recreation; gun and camera repair;
  1 17 house and building moving; household appliance, television,
  1 18 and radio repair; janitorial and building maintenance or
  1 19 cleaning; jewelry and watch repair; lawn care, landscaping,
  1 20 and tree trimming and removal; limousine service, including
  1 21 driver; machine operator; machine repair of all kinds; motor
  1 22 repair; motorcycle, scooter, and bicycle repair; oilers and
  1 23 lubricators; office and business machine repair; painting,
  1 24 papering, and interior decorating; parking facilities; pay
  1 25 television; pet grooming; pipe fitting and plumbing; wood
  1 26 preparation; executive search agencies; private employment
  1 27 agencies, excluding services for placing a person in employment
  1 28 where the principal place of employment of that person is to
  1 29 be located outside of the state; reflexology; security and
  1 30 detective services, excluding private security and detective
  1 31 services furnished by a peace officer with the knowledge and
  1 32 consent of the chief executive officer of the peace officer's
  1 33 law enforcement agency; sewage services for nonresidential
  1 34 commercial operations; sewing and stitching; shoe repair
  1 35 and shoeshine; sign construction and installation; storage
  2  1 of household goods, mini=storage, and warehousing of raw
  2  2 agricultural products; swimming pool cleaning and maintenance;
  2  3 tanning beds or salons; taxidermy services; telephone
  2  4 answering service; test laboratories, including mobile testing
  2  5 laboratories and field testing by testing laboratories, and
  2  6 excluding tests on humans or animals; termite, bug, roach, and
  2  7 pest eradicators; tin and sheet metal repair; transportation
  2  8 service consisting of the rental of recreational vehicles
  2  9 or recreational boats, or the rental of vehicles subject
  2 10 to registration which are registered for a gross weight of
  2 11 thirteen tons or less for a period of sixty days or less, or
  2 12 the rental of aircraft for a period of sixty days or less;
  2 13 Turkish baths, massage, and reducing salons, excluding services
  2 14 provided by massage therapists licensed under chapter 152C;
  2 15 water conditioning and softening; weighing; welding; well
  2 16 drilling; wrapping, packing, and packaging of merchandise other
  2 17 than processed meat, fish, fowl, and vegetables; wrecking
  2 18 service; wrecker and towing.
  2 19                           EXPLANATION
  2 20 The inclusion of this explanation does not constitute agreement with
  2 21 the explanation's substance by the members of the general assembly.
  2 22    This bill exempts the furnishing of investment counseling
  2 23 services from the state sales tax.
  2 24    By operation of Code section 423.6, an item exempt from the
  2 25 imposition of the sales tax is also exempt from the use tax
  2 26 imposed in Code section 423.5.
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