Iowa Admin. Code r. 701-285.1 - Auctioneers as agents
(1) An
auctioneer in making a sale, whether of tangible personal property, specified
digital products, or realty, is by virtue of this employment making the sale as
the agent of the principal.
(2)
Where an auctioneer is conducting a sale and the principal meets the
requirement of the casual sale exemption found in Iowa Code section
423.3(39), the
sales price from the sale is exempt from sales tax.
This rule is intended to implement Iowa Code sections 423.2 and 423.3(39).
Notes
ARC 8157C, IAB 7/24/24, effective 8/28/24
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