NADA has recently updated its website with information regarding federal and state EV credits. While the state of Iowa does not offer EV credits to its residents, Iowa dealers may have customers from other states who qualify for …
Parts and Supplies Purchased for Resale The rules on when the dealer pays sales tax on parts and supplies and when the customer pays sales tax on the same parts and supplies are complicated. However, the general rules …
GAP (Guaranteed Asset Protection) and GAP Waiver are forms of debt cancellation coverage that protect consumers when the insurer pays less for a totaled or stolen vehicle than the balance remaining on the account. The federal administrative rule, …
You will pass on some types of charges to your customers. Possible charges include environmental waste disposal fees, sublet charges, and freight charges. If you have already paid tax on those charges and you do not mark them up, …
Optional service contracts and extra charge extended warranties are subject to sales tax and have been since 1981. The additional 1% local option sales tax must be added in local option jurisdictions. The tax on these items should …
Labor done in your own shop on dealer-owned, non-inventory vehicles is not subject to sales tax. It is considered to be service performed for the employer and is not taxable.
There is no tax on storage fees charged to customers. Source: Iowa Department of Revenue 701 IAC 26.42