Section 437A.21. Return and payment requirements.

  1.  Each electric company, natural gas company, electric cooperative, municipal utility, and other person whose property is subject to the statewide property tax shall file with the director a return, on or before March 31 following the assessment year, including, but not limited to, the following information:

  a.  The assessed value of property subject to the statewide property tax.

  b.  The amount of statewide property tax computed on such assessed value.

  2.  The first return under subsection 1 is due on or before February 28, 2000.

  3.  If an electric company, natural gas company, electric cooperative, municipal utility, or person is not required to file a statewide property tax return on or before February 28, 2000, but is required to file a return after such date, the return shall be filed on or before the due date. This subsection also applies in the event of a consolidation.

  4.  A return shall be signed by an officer, or other person duly authorized by the taxpayer, and must be certified as correct and in accordance with rules and forms prescribed by the director.

  5.  At the time of filing the return with the director, the taxpayer shall calculate the statewide property tax owed for the assessment year and shall remit to the director the statewide property tax required to be shown to be due on the return.

  6.  Notwithstanding subsections 1 through 5, a taxpayer is not required to file a return under this section or to remit any statewide property tax for any tax year in which the taxpayer’s statewide property tax liability is one dollar or less.

98 Acts, ch 1194, §22, 40

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2000 Acts, ch 1114, §13, 18

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2001 Acts, ch 145, §11, 13