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The School Infrastructure Local Option (SILO) is a 1% local option sales tax adopted on a county by county basis in Iowa, United States. Although the tax is collected by county, state mandate says the total amount collected is to be pooled and shared between the school districts. SILO was developed in 1998 by the Iowa General Assembly to give ...
Iowa's tax-free holiday is quickly approaching. From Friday, Aug. 2 through Saturday, Aug. 3, a variety of clothing, shoes, weather-appropriate wear and more will all be tax-free with a few ...
A local option sales tax is often used as a means of raising funds for specific local or area projects, such as improving area streets and roads, or refurbishing a community's downtown area. LOSTs are always appended onto a state's base sales tax rate, most commonly at a rate of 1%. For example, in Iowa, the base sales tax rate is 6% statewide ...
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Sales taxes are imposed only on taxable transfers of goods or services. The tax is computed as the tax rate times the taxable transaction value. Rates vary by state, and by locality within a state. [5] Not all types of transfers are taxable. The tax may be imposed on sales to consumers and to businesses.
Sales tax will be waived on select items at all Iowa businesses from Aug. 5-6. From back-to-school clothes to treating yourself, here's how it works. Iowa's tax-free weekend is in August.
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Amazon only agreed to collect the 6.6% state sales tax, but there was no requirement to collect local sales taxes, which can bring total tax close to 10%. [16] This was an agreement between Amazon and Arizona, which mainly centered on Amazon's tax obligations because it maintains warehouses in Arizona.