1.Each taxpayer, on or before March 31 following a tax year, shall file with the director a
return including but not limited to the following information:
a.The total taxable gallons of water delivered by the water utility to consumers within the
service area during the tax year.
b.The tentative replacement taxes imposed by section 437B.3 due for the tax year.
2.A return shall be signed by an officer, or other person duly authorized by the water
utility, and must be certified as correct and in accordance with forms and rules prescribed by
the director.
3.At the time of filing the return required by subsection 1 with the director, the taxpayer
shall calculate the tentative replacement tax due for the tax year. The director shall
compute any adjustments to the replacement tax required b
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1. Each taxpayer, on or before March 31 following a tax year, shall file with the director a
return including but not limited to the following information:
a. The total taxable gallons of water delivered by the water utility to consumers within the
service area during the tax year.
b. The tentative replacement taxes imposed by section 437B.3 due for the tax year.
2. A return shall be signed by an officer, or other person duly authorized by the water
utility, and must be certified as correct and in accordance with forms and rules prescribed by
the director.
3. At the time of filing the return required by subsection 1 with the director, the taxpayer
shall calculate the tentative replacement tax due for the tax year. The director shall
compute any adjustments to the replacement tax required by subsection 5 and by section
437B.3, subsection 3, and notify the taxpayer of any such adjustments in accordance with
the requirements of section 437B.3, subsection 5. The director and the department of
management shall compute the allocation of replacement taxes among local taxing districts
and report such allocations to county treasurers pursuant to section 437B.11. Based on such
allocations, the treasurer of each county shall notify each taxpayer on or before August 31
following a tax year of its replacement tax obligation to the county treasurer. On or before
September 30, 2014, and on or before September 30 of each subsequent year, the taxpayer
shall remit to the county treasurer of each county to which such replacement tax is allocated
pursuant to section 437B.11, one-half of the replacement tax so allocated, and on or before
the succeeding March 31, the taxpayer shall remit to the county treasurers the remaining
replacement tax so allocated. If notification of a taxpayer’s replacement tax obligation is not
mailed by a county treasurer on or before August 31 following a tax year, such taxpayer shall
have thirty days from the date the notification is mailed to remit one-half of the replacement
tax otherwise required by this subsection to be remitted to such county treasurer on or
before September 30. If a taxpayer fails to timely remit replacement taxes as provided in
this subsection, the county treasurer of each affected county shall notify the director of such
failure.
4. Notwithstanding subsections 1 through 3, a taxpayer shall not be required to file a
return otherwise required by this section or remit any replacement tax for any tax year in
which the taxpayer’s replacement tax liability before credits is three hundred dollars or less,
provided that all water utilities shall file a return, regardless of the taxpayer’s replacement
tax liability.
5. Following the determination of replacement delivery tax rates by the director pursuant
to section 437B.3, subsection 2, if an adjustment resulting from a taxpayer appeal is made
to taxes levied and paid by a taxpayer with respect to the assessment year 2011 used in
determining such rates, the director shall recalculate the replacement delivery tax rate for
any affected water utility to reflect the impact of such adjustment as if such adjustment had
been reflected in the initial determination of the centrally assessed property tax liability
allocated to water service pursuant to section 437B.3, subsection 2, paragraph “a”. Rate
recalculations shall be made and published in the Iowa administrative bulletin by the
director on or before March 31 following the calendar year in which a final determination
of the adjustment is made. Taxpayers shall report to the director any increase or decrease
in the tentative replacement tax required to be shown to be due pursuant to subsection
1, paragraph “b”, for any tax year with the return for the year in which the recalculated
tax rates which gave rise to the adjustment are published in the Iowa administrative
bulletin. The director and the department of management shall redetermine the allocation
of replacement taxes pursuant to section 437B.11 for each affected tax year. If a taxpayer
has overpaid replacement taxes, the overpayment shall be reported by the director to
such taxpayer and to the appropriate county treasurers and shall be a credit against the
replacement taxes owed by such taxpayer for the year in which the recalculated rates which
gave rise to the overpayment are published in the Iowa administrative bulletin. If a taxpayer
has overpaid centrally assessed property taxes for assessment years prior to tax year 2013,
such overpayment shall be a credit against replacement taxes owed by such taxpayer for the
5 TAXES ON RATE-REGULATED WATER UTILITIES, §437B.7
year in which the overpayment is determined. Unused credits may be carried forward and
used to reduce future replacement tax liabilities until exhausted.