Iowa § 421.28 Exceptions to successor liability

Iowa Statutes

§ 421.28 — Exceptions to successor liability

Iowa § 421.28

Title XFINANCIAL RESOURCES

Ch. 421DEPARTMENT OF REVENUE

This text of Iowa § 421.28 (Exceptions to successor liability) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 421.28 (2026).

Text

The immediate successor to a licensee’s or retailer’s business or stock of goods under
chapter 423A or 423B, or section 423.33 or 452A.65, is not personally liable for the amount
of delinquent tax, interest, or penalty due and unpaid if the immediate successor shows that
the purchase of the business or stock of goods was made in good faith that no delinquent
tax, interest, or penalty was due and unpaid. For purposes of this section the immediate
successor shows good faith by evidence that the department had provided the immediate
successor with a certified statement that no delinquent tax, interest, or penalty is unpaid, or
that the immediate successor had taken in good faith a certified statement from the licensee,
retailer, or seller that no delinquent tax, interest, or penalty is unpaid

Free access — add to your briefcase to read the full text and ask questions with AI

The immediate successor to a licensee’s or retailer’s business or stock of goods under
chapter 423A or 423B, or section 423.33 or 452A.65, is not personally liable for the amount
of delinquent tax, interest, or penalty due and unpaid if the immediate successor shows that
the purchase of the business or stock of goods was made in good faith that no delinquent
tax, interest, or penalty was due and unpaid. For purposes of this section the immediate
successor shows good faith by evidence that the department had provided the immediate
successor with a certified statement that no delinquent tax, interest, or penalty is unpaid, or
that the immediate successor had taken in good faith a certified statement from the licensee,
retailer, or seller that no delinquent tax, interest, or penalty is unpaid. When requested to
do so by a person with whom the licensee or retailer is negotiating the sale of the business
or stock of goods, the director of revenue shall, upon being satisfied that such a situation
exists, inform that person as to the amount of unpaid delinquent tax, interest, or penalty due
by the licensee or the retailer. The giving of the information under this circumstance is not a
violation of section 422.20, 422.72, or 452A.63.