Iowa Department of Revenue Changes in Sales and Use Tax Collections Effective July 1st |
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ABI public policy staff has reported on personal and corporate income tax reduction, elimination of retirement income taxes and even the elimination of sales taxes on airplane repair. Less mentioned are some efficiencies in the collection of sales and use taxes the Iowa Department of Revenue instituted through law this session that become effective on July 1, 2022. Going forward:
- Taxpayers will report sales and use tax on the same return and will only need one permit for both sales and use tax.
- Taxpayers will either file and pay monthly or annually, depending on the amount of tax collected.
- Monthly returns must be filed and tax must be paid electronically.
- Semimonthly deposit payments are no longer required.
A guidance has been put together by IDR to help implement the changes and can be found here.
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First Round of EPIC Interviews Completed |
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Every election cycle, the organization Economic Progress for Iowa’s Citizens (EPIC) interviews candidates running in open seats for the Iowa House, Senate and other statewide offices following the June primary. EPIC is an entity composed of individual businesses and trade associations, including ABI, that seek to learn more about candidates and where they stand on general business issues. Though EPIC is separate from ABI, we help facilitate the process by hosting and scheduling interviews with the candidates. We were able to hear from nearly 20 candidates this past week. If you’d like to learn more about EPIC, please contact Brad Hartkopf.
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Fort Dodge Regional Meeting Next Week |
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The ABI public policy team will travel to Fort Dodge next Thursday to present the results of the 2022 legislative session. The meeting will take place at the Greater Fort Dodge Growth Alliance and begins at 11:30 am. This is your opportunity to tell us what you think about our public policy efforts and what we should be prioritizing in 2023. These meetings are open to non-member, so invite other area business leaders to lunch and to learn more about ABI!
Click here to register for this FREE event. Lunch will be provided.
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Air Quality Bureau Chief Confirmed to Speak at Environment Committee Meeting |
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We’re continuing to schedule key speakers for ABI’s public policy meetings, which will take place in August at the ABI offices in Des Moines. These meetings are a way for members to discuss public policy priorities for 2023.
Sarah Piziali, the new Air Quality Bureau Chief at DNR, is set to address the Environment Committee during the policy meeting on Thursday, August 11th.
Iowa Economic Development Authority and Iowa Finance Authority Director Debi Durham was recently confirmed to speak to the Economic Growth Committee on Thursday, August 18th.
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Iowa Supreme Court Undergoing Change |
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A mandatory retirement age policy for sitting Iowa Supreme Court Justices has swung in motion as the process of replacing Associate Justice Brent Appel has begun. This will be Governor Reynolds’ fifth appointment to the seven member body. For more on the process and the three final candidates Governor Reynolds will choose from, click here.
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Federal Spotlight: ATRA Sends Warning to States on New Legal Liabilities |
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ABI seeks out subject matter expertise through membership in several national groups to help inform our important public policy role in Iowa. When it comes to the legal liabilities of ABI members and how to manage litigation, the go-to group is the American Tort Reform Association (ATRA). ABI staff is in regular contact with this group and they were a critical resource as ABI secured COVID-19 legal liability limitations for Iowa businesses during the 2020 legislative session. Something from ATRA hit our inboxes this week that we felt we should send on to you.
The American Law Institute has been around for many decades. Before digital communication, it served a critical role: aggregating and sharing trends in state law interpretation through “restatements” that informed judges and attorneys of the evolution of legal interpretations in specific areas of the law amongst the states. Recently this has changed in some cases and the restatements can attempt to lead, rather than report this evolution. Such is the case in their recent contract law restatement that could put ABI members that execute consumer contracts with their customers at greater legal litigation risk. Read here for greater understanding. ABI staff is working to determine if an Iowa-based policy response is warranted.
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Event Spotlight: Okoboji CEO Forum |
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CEOs, presidents and founders: Join us at Waterfront Event Center in Okoboji on July 28 and 29.
Programming highlights include:
- Business Leadership Session with Miriam Erickson Brown, Chair and CEO - Anderson Erickson Dairy, Co.
- A Leadership and Succession Planning Panel with Iowa Presidents and CEOs
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Photo Source: Waterfront Okoboji |
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Foundation: Salute to the 40th Class of Leadership Iowa
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Last month, we graduated the 40th class of Leadership Iowa. At a time when the world can be more divisive than collaborative, they came together and demonstrated the good that we can accomplish when we come together and show up for one another, simply in the spirit of humanity. They sought to do better and be better; together.
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While they explored the challenges and opportunities in our state, they also gave back. Though not a component of Leadership Iowa, the class contributed more than $15,000 in support of local causes in host communities, additional charities, and in support of one another in celebratory times and difficult moments.
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From the Desk of Mike Ralston, ABI President |
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A New Fiscal Year Begins, Programming Continues
ABI begins a new fiscal year each July. However, the date is much more than a simple accounting mark.
July is important to ABI, because it provides the opportunity to take stock of the year past and prepare for success in the year ahead. First, did we meet the charge from the Board of Directors to be fiscally responsible? Did we meet our financial goals during the past year and are we well established for the year ahead? Second and just as important, did we meet our programming goals? Is ABI serving members and providing resources that help improve member companies' bottom line?
The answers to those questions better be in the affirmative. Each ABI member company has countless demands for support, with more arriving every day. For ABI to deserve your investment, our organization better be providing value. It is that focus that is the goal all year at ABI, but especially every July 1.
Speaking of programming, it never stops, of course. Summer is huge time for ABI (and ABI Foundation) programs and events. Keep Reading...
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Click on the company logos to learn about our newest members. |
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Click on the headlines to learn about the latest ABI member news. |
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