99G.30A - MONITOR VENDING MACHINE -- TAX IMPOSED.
99G.30A MONITOR VENDING MACHINE -- TAX IMPOSED.
1. If revenues are generated from monitor vending machines on or
after forty-five days following March 20, 2006, then there shall be a
monitor vending machine excise tax imposed on net monitor vending
machine revenue receipts at the rate of sixty-five percent.
2. a. The director of revenue shall administer the monitor
vending machine excise tax as nearly as possible in conjunction with
the administration of state sales tax laws. The director shall
provide appropriate forms or provide appropriate entries on the
regular state tax forms for reporting local sales and services tax
liability.
b. All powers and requirements of the director to administer
the state sales and use tax law are applicable to the administration
of the monitor vending machine excise tax, including but not limited
to the provisions of section 422.25, subsection 4, sections 422.30,
422.67, and 422.68, section 422.69, subsection 1, sections 422.70
through 422.75, section 423.14, subsection 1 and subsection 2,
paragraphs "b" through "e", and sections 423.15, 423.23,
423.24, 423.25, 423.31 through 423.35, 423.37 through 423.42, 423.46,
and 423.47.
c. Frequency of deposits and quarterly reports of the monitor
vending machine excise tax with the department of revenue are
governed by the tax provisions in section 423.31. Monitor vending
machine excise tax collections shall not be included in computation
of the total tax to determine frequency of filing under section
423.31.
3. For purposes of this section, "net monitor vending machine
revenue receipts" means the gross receipts received from monitor
vending machines less prizes awarded. Section History: Recent Form
2006 Acts, ch 1005, §3--5; 2008 Acts, ch 1032, §16