2014

Ryan Announces Iowa to Tax Online Retailers

DALLAS, June 25, 2013 /PRNewswire/ -- On June 11, 2013, Iowa Governor Terry Branstad signed into law House File 625 ("H.F. 625") (effective July 1, 2013), known as the "e-fairness" legislation. The law is designed to close existing loopholes that establish nexus for sales tax. While not mentioning online retail specifically, H.F. 625 effectively captures online sales by linking "establishing or maintaining a market" to statutory nexus requirements. This new language broadens existing nexus requirements that previously allowed retailers with no physical presence in Iowa to avoid paying sales tax on transactions with residents of the state. The law represents a state-level initiative mirroring the Marketplace Fairness Act currently facing scrutiny in the U.S. House of Representatives. Where some of the strictest criticism of the federal legislation revolves around inadequate exemptions for small businesses, H.F. 625 does not appear to contemplate such an exemption in any way.

(Logo: http://photos.prnewswire.com/prnh/20110726/DA41187LOGO)

About Ryan
Ryan is an award-winning global tax services firm, with the largest indirect and property tax practices in North America and the seventh largest corporate tax practice in the United States. Headquartered in Dallas, Texas, the Firm provides a comprehensive range of state, local, federal, and international tax advisory and consulting services on a multi-jurisdictional basis, including audit defense, tax recovery, credits and incentives, tax process improvement and automation, tax appeals, tax compliance, and strategic planning. Ryan is a three-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan's multi-disciplinary team of more than 1,600 professionals and associates serves over 9,000 clients in 40 countries, including many of the world's most prominent Global 5000 companies. More information about Ryan can be found at www.ryan.com .

TECHNICAL INFORMATION CONTACT:

Jeremiah T. Lynch
Principal
Ryan
212.871.3901
jeremiah.lynch@ryan.com

SOURCE Ryan, LLC



RELATED LINKS
http://www.ryan.com

More by this Source


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.