WATERLOO, Iowa (KWWL) — Governor Reynolds signed a significant tax invoice into regulation Wednesday morning, which permits gross sales tax exemption for meals banks amongst different issues.
Throughout the 2021 legislative meeting, the Iowa gross sales tax exemption laws was handed. The meals banks serving Iowa had been granted state gross sales tax exemption for the acquisition of tangible items, corresponding to provides, gear, and providers. The Northeast Iowa Meals Financial institution says this laws will allow extra meals to be distributed to Iowans in want.
Northeast Iowa Meals Banks says the bipartisan assist for this laws permits meals banks and their companions to distribute an extra a million meals in Iowa. In previous years the Northeast Iowa Meals Financial institution paid roughly in $40,000 in state gross sales tax for tangible items and providers. The meals supplied itself isn’t taxed in Iowa.
Northeast Iowa Meals Financial institution will use the funds to provide extra meals to feed the hungry.
This laws will really assist the meals banks and our companions within the combat in opposition to starvation in northeast Iowa, to make an excellent larger distinction within the lives of these we serve. This public motion makes an impression and reminds us that TOGETHER–WE CHANGE LIVES. The impression of the $40,000 financial savings for our Meals Financial institution will make an important impression to households who want meals to eat.”
Barbara Prather, Government Director, Northeast Iowa Meals Financial institution