- Starting January 1, 2024, Iowa’s sales tax exemptions for certain businesses buying computers and computer peripherals will change
- Insurance companies, financial institutions, and some commercial enterprises currently enjoy a tax break when purchasing these items for data or information storage
- This exemption will end on December 31, 2023, due to Section 41 of the 2022 Iowa Acts, Senate File 2367
- From January 1, 2024, these purchases by the mentioned entities will be subject to Iowa sales and use tax
- To stay updated on such changes and other guidance from the Department, you can subscribe to their updates on specific tax topics.
Source: salestaxinstitute.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
