Iowa Code 437B.17 – Return and payment requirements
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1. Each water utility whose property is subject to the statewide property tax shall file with the director a return, on or before March 31 following the assessment year, including but not limited to the following information:
a. The assessed value of property subject to the statewide property tax.
b. The amount of statewide property tax computed on such assessed value.
Terms Used In Iowa Code 437B.17
- Director: means the director of the department of revenue. See Iowa Code 453A.42
- Director: means the director of revenue. See Iowa Code 437B.2
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Person: means any individual, firm, association, partnership, joint stock company, joint adventure, corporation, trustee, agency, or receiver, or any legal representative of any of the foregoing. See Iowa Code 453A.42
- property: includes personal and real property. See Iowa Code 4.1
- Tax year: means a calendar year beginning January 1 and ending December 31. See Iowa Code 437B.2
- Taxpayer: means a water utility or other person subject to the replacement tax imposed under section 437B. See Iowa Code 437B.2
- year: means twelve consecutive months. See Iowa Code 4.1
2. The first return under subsection 1 is due on or before February 28, 2014.
3. A return shall be signed by an officer, or other person duly authorized by the taxpayer, and must be certified as correct and in accordance with rules and forms prescribed by the director.
4. At the time of filing the return with the director, the taxpayer shall calculate the statewide property tax owed for the assessment year and shall remit to the director the statewide property tax required to be shown due on the return.
5. Notwithstanding subsections 1 through 4, a taxpayer is not required to file a return under this section or to remit any statewide property tax for any tax year in which the taxpayer’s statewide property tax liability is one dollar or less.