Bill Text: IA SF35 | 2017-2018 | 87th General Assembly | Introduced
Bill Title: A bill for an act exempting investment counseling services and related service charges from the state sales tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2017-01-12 - Subcommittee: Feenstra, Jochum, and Schultz. S.J. 84. [SF35 Detail]
Download: Iowa-2017-SF35-Introduced.html
Senate File 35 - Introduced SENATE FILE BY ZAUN A BILL FOR 1 An Act exempting investment counseling services and related 2 service charges from the state sales tax. 3 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: TLSB 1575XS (3) 87 mm/sc PAG LIN 1 1 Section 1. Section 423.2, subsection 6, paragraph a, Code 1 2 2017, 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 repair; 1 6 battery, tire, and allied;investment counseling;service 1 7 charges of all financial institutions, excluding service 1 8 charges for investment counseling; barber and beauty; boat 1 9 repair; vehicle wash and wax; campgrounds; carpentry; roof, 1 10 shingle, and glass repair; dance schools and dance studios; 1 11 dating services; dry cleaning, pressing, dyeing, and laundering 1 12 excluding the use of self=pay washers and dryers; electrical 1 13 and electronic repair and installation; excavating and 1 14 grading; farm implement repair of all kinds; flying service; 1 15 furniture, rug, carpet, and upholstery repair and cleaning; fur 1 16 storage and repair; golf and country clubs and all commercial 1 17 recreation; gun and camera repair; house and building moving; 1 18 household appliance, television, and radio repair; janitorial 1 19 and building maintenance or cleaning; jewelry and watch 1 20 repair; lawn care, landscaping, and tree trimming and removal; 1 21 limousine service, including driver; machine operator; machine 1 22 repair of all kinds; motor repair; motorcycle, scooter, and 1 23 bicycle repair; oilers and lubricators; office and business 1 24 machine repair; painting, papering, and interior decorating; 1 25 parking facilities; pay television; pet grooming; pipe 1 26 fitting and plumbing; wood preparation; executive search 1 27 agencies; private employment agencies, excluding services 1 28 for placing a person in employment where the principal place 1 29 of employment of that person is to be located outside of the 1 30 state; reflexology; security and detective services, excluding 1 31 private security and detective services furnished by a peace 1 32 officer with the knowledge and consent of the chief executive 1 33 officer of the peace officer's law enforcement agency; sewage 1 34 services for nonresidential commercial operations; sewing 1 35 and stitching; shoe repair and shoeshine; sign construction 2 1 and installation; storage of household goods, mini=storage, 2 2 and warehousing of raw agricultural products; swimming pool 2 3 cleaning and maintenance; tanning beds or salons; taxidermy 2 4 services; telephone answering service; test laboratories, 2 5 including mobile testing laboratories and field testing by 2 6 testing laboratories, and excluding tests on humans or animals 2 7 and excluding environmental testing services; termite, bug, 2 8 roach, and pest eradicators; tin and sheet metal repair; 2 9 transportation service consisting of the rental of recreational 2 10 vehicles or recreational boats, or the rental of vehicles 2 11 subject to registration which are registered for a gross 2 12 weight of thirteen tons or less for a period of sixty days or 2 13 less, or the rental of aircraft for a period of sixty days or 2 14 less; Turkish baths, massage, and reducing salons, excluding 2 15 services provided by massage therapists licensed under chapter 2 16 152C; water conditioning and softening; weighing; welding; 2 17 well drilling; wrapping, packing, and packaging of merchandise 2 18 other than processed meat, fish, fowl, and vegetables; wrecking 2 19 service; wrecker and towing. 2 20 EXPLANATION 2 21 The inclusion of this explanation does not constitute agreement with 2 22 the explanation's substance by the members of the general assembly. 2 23 This bill exempts the furnishing of investment counseling 2 24 services, including service charges by financial institutions 2 25 for investment counseling, from the state sales tax. 2 26 By operation of Code section 423.6, an item exempt from the 2 27 imposition of the sales tax is also exempt from the use tax 2 28 imposed in Code section 423.5. LSB 1575XS (3) 87 mm/sc
