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Tax Could Raise Sale Prices of Goods and Services

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CC-By Cburnett at the English language Wikipedia

Iowa lawmakers introduced a bill in January that would increase different sale and use taxes to fund the natural resources and outdoor recreation trust fund.

If passed, a six and three-eighths percent tax would be added to the sale price of goods, wares and merchandise sold by retailers in the state. The tax would also be added to the sale price of services businesses provide, not including services that recondition and repair merchandise sold in a retailer’s regular course of business.

Business owners would also see an increase in the amount they pay for utilities. The bill would add a six and three-eighths percent tax to the sale price of gas, water, electricity, and television and communication services.

Lawmakers have referred the bill to the Ways and Means Committee for consideration.

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About Hanna Russmann

I am a graduate of Simpson College with a degree in Multimedia Journalism.

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