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.
    TLSB 1575XS (3) 87


  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