423.26 - VEHICLES SUBJECT ONLY TO THE ISSUANCE OF TITLE -- MANUFACTURED HOUSING -- VEHICLE LEASE TRANSACTIONS NOT REQUIRING TITLE OR REGISTRATION.

        423.26  VEHICLES SUBJECT ONLY TO THE ISSUANCE OF TITLE      -- MANUFACTURED HOUSING -- VEHICLE LEASE TRANSACTIONS NOT REQUIRING      TITLE OR REGISTRATION.         1. a.  The use tax imposed upon the use of vehicles subject      only to the issuance of a certificate of title or imposed upon the      use of manufactured housing shall be paid by the owner of the vehicle      or of the manufactured housing to the county treasurer or the state      department of transportation from whom the certificate of title is      obtained.  A certificate of title shall not be issued until the tax      has been paid.  The county treasurer or the state department of      transportation shall require every applicant for a certificate of      title to supply information as the county treasurer or the director      deems necessary as to the time of purchase, the purchase price,      installed purchase price, and other information relative to the      purchase of the vehicle or manufactured housing.  On or before the      tenth day of each month, the county treasurer or the state department      of transportation shall remit to the department the amount of the      taxes collected during the preceding month.         b.  A person who willfully makes a false statement in regard      to the purchase price of a vehicle subject to taxation under this      subsection is guilty of a fraudulent practice.  A person who      willfully makes a false statement in regard to the purchase price of      such a vehicle with the intent to evade the payment of tax shall be      assessed a penalty of seventy-five percent of the amount of tax      unpaid and required to be paid on the actual purchase price less      trade-in allowance.         2. a.  The use tax imposed upon the use of leased vehicles if      the lease transaction does not require titling or registration of the      vehicle shall be remitted to the department.  Tax and the reporting      of tax due to the department shall be remitted on or before fifteen      days from the last day of the month that the tax becomes due.      Failure to timely report or remit any of the tax when due shall      result in a penalty and interest being imposed on the tax due      pursuant to section 423.40, subsection 1, and section 423.42,      subsection 1.         b.  The amount subject to tax shall be computed on each      separate lease transaction by taking the total of the lease payments,      plus the down payment, and excluding all of the following:         (1)  Title fee.         (2)  Registration fees.         (3)  Use tax pursuant to this subsection.         (4)  Federal excise taxes attributable to the sale of the vehicle      to the owner or to the lease of the vehicle by the owner.         (5)  Optional service or warranty contracts subject to tax      pursuant to section 423.2, subsection 1.         (6)  Insurance.         (7)  Manufacturer's rebate.         (8)  Refundable deposit.         (9)  Finance charges, if any, on items listed in subparagraphs (1)      through (8).         c.  If any or all of the items in paragraph "b",      subparagraphs (1) through (8) are excluded from the taxable lease      price, the owner shall maintain adequate records of the amounts of      those items.  If the parties to a lease enter into an agreement      providing that the tax imposed under this subsection is to be paid by      the lessee or included in the monthly lease payments to be paid by      the lessee, the total cost of the tax shall not be included in the      computation of lease price for the purpose of taxation under this      subsection.  
         Section History: Recent Form
         2003 Acts, 1st Ex, ch 2, §119, 205; 2008 Acts, ch 1113, §44         Referred to in § 312.1, 321.20, 331.557, 423.3, 423.5, 423.14,      423.36, 423.43         Fraudulent practices, see §714.8--714.14 
         Footnotes
         Former § 423.26 repealed effective July 1, 2004, by 2003 Acts, 1st      Ex, ch 2, § 151, 205