Iowa Code 99G.29 – Retailer rental calculations — lottery ticket sales treatment
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Iowa Code 99G.29
- Department: means the department of revenue. See Iowa Code 99G.3
- Retailer: means a person who sells lottery tickets or shares on behalf of the division pursuant to a license issued by the department. See Iowa Code 99G.3
If a lottery retailer‘s rental payments for the business premises are contractually computed, in whole or in part, on the basis of a percentage of retail sales and such computation of retail sales is not explicitly defined to include sales of tickets or shares in a state-operated or state-managed lottery, only the compensation received by the lottery retailer from the department may be considered the amount of the lottery retail sale for purposes of computing the rental payment.