Iowa Admin. Code r. 701-259.2 - [Effective 4/23/2025] Taxpayers required to keep records
(1) The records required to be kept by this
rule must be preserved for a period of three years and will be open for
examination by the department during this period of time. The department, after
an audit and examination of the records, may authorize the disposal of the
records required to be kept upon written request by the taxpayer. 701-subrule
11.3(3) contains additional information for taxpayers using an electronic data
interchange.
(2) Every supplier or
restrictive supplier required to file a monthly return under Iowa Code section
452A.8, every importer required
to file a semimonthly return under Iowa Code section
452A.8, and every exporter,
terminal or nonterminal storage facility operator, distributor, blender, and
dealer is required to keep and preserve records in compliance with 701-Chapter
11. Such persons are also required to keep the following records relating to
the purchase or sale of fuel:
a. Copies of
bills of lading or manifests.
b.
Copies of sales and purchase invoices.
c. Sales records and purchase
records.
d. Copies of filed returns
and supporting schedules.
e. Record
of payment.
f. Export
schedules.
g. Delivery
tickets.
h. Copies of reports,
returns, and supporting schedules filed with the importing state.
i. Exemption certificates.
This rule is intended to implement Iowa Code section 452A.8.
Notes
ARC 0251C, IAB 8/8/12, effective 9/12/12; ARC 6508C, IAB 9/7/22, effective 10/12/22; Editorial change: IAC Supplement 10/18/23
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