Nyemaster Goode, P.C.

Tax Law Update

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The Nyemaster Tax Law Blog is dedicated to current tax law and employee benefit/ERISA issues impacting individuals and businesses, at both the Iowa and federal levels. We hope you find this resource informative and appreciate your feedback.

May 15, 2019

In 2018, three administrative rulings and court cases provided valuable guidance to businesses regarding the following Iowa sales and use tax issues: Sourcing of services provided remotely. The types of equipment eligible for the exemption for research and development. The scope of the exemption for services related to new construction. The following summaries provide... Read More

September 25, 2018

By Bruce Baker and Dwayne Vande Krol The passage of Senate File 2417 during the 2018 legislative session resulted in many changes to Iowa’s tax code.In an earlier post, we highlighted some of the more significant changes affecting business entities. In this post we’ll address 10 key changes to Iowa’s sales... Read More

September 17, 2018

The Iowa Legislature made extensive changes to Iowa’s tax code with the passage of Senate File 2417 during its 2018 legislative session. The Legislature’s stated objective was to update and modernize Iowa’s tax system to better match the “new economy.” The bill made changes to many of the taxes imposed and... Read More

September 10, 2018

U.S. Supreme Court Upholds and Iowa Legislature Enacts Statutes Requiring Retailers with No In-State Physical Presence to Collect Sales Tax By Bruce Baker and Dwayne Vande Krol On June 21, 2018, the U.S. Supreme Court held in South Dakota v. Wayfair[1] that states could subject out-of-state retailers to sales taxes even if... Read More

September 6, 2018

The Tax Cuts and Jobs Act was signed into law on December 22, 2017 and is the most significant tax reform we have seen in over 30 years. With two-thirds of 2018 already passed, it’s worth revisiting the new law to ensure you’re prepared come tax season. Major elements of the... Read More

September 13, 2017

In 1992, the U.S. Supreme Court held in Quill Corp. v. North Dakota that the Commerce Clause of the U.S. Constitution requires a retailer to have a physical presence in a state before the State can require the retailer to collect its sales or use taxes. In the 25 years... Read More

August 9, 2017

One of the most important considerations in an estate plan is who will take care of your children if something happens to you and your spouse. If you fail to designate a guardian, the court will be forced to choose one for you. As you can imagine, this can result... Read More

May 11, 2017

A. The Federal Government’s Share Current federal tax law imposes an estate tax on the value of taxable estates exceeding $5,490,000. In computing the taxable estate, federal law allows an unlimited marital deduction for qualified transfers to a spouse, as well as an unlimited deduction for bequests to qualified charitable organizations.... Read More

April 25, 2017

Under Iowa law, petitions to appeal the January 1, 2017 assessed values of real estate must be filed with the county or city board of review no later than Monday, May 1, 2017. According to the Polk County Assessor’s April 2017 newsletter, the average increase for commercial and industrial property... Read More

March 10, 2017

Probate is the process by which a person’s estate is settled after death. Final bills are paid, final taxes are filed, and assets are collected and distributed to the beneficiaries. The entire process is supervised by the court, usually takes 9-12 months, and comes with expenses – court costs and... Read More

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