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Sales of tangible personal property in Iowa are subject to sales tax unless exempted by state law. Sales of services are exempt from Iowa sales tax unless taxed by state law. The retailer must add the tax to the price and collect the tax from the purchaser.
Manufacturing Exemption Sales of machinery, equipment, replacement parts, supplies, computers, computer peripherals, and materials used to construct or self-construct those items are exempt from tax if the items are any of the following: Directly and primarily used in processing by a manufacturer.
But the state's economy is diversified and also has core strengths in advanced manufacturing, biosciences and financial services. Advanced manufacturing is a major driver of the Iowa economy, and the critical mass of expertise here is well worth investigating for a competitive advantage.
Iowa's nickname is the Hawkeye state. Iowa has 3 state universities: Iowa StateUniversity, University of Iowa, and University of Northern Iowa. Iowa ranks first in beef, pork, corn, soybean and grain production.
Known to produce one-fourteenth of the nation's food supply, Iowa is the largest producer of corn, pork and eggs in the United States and second in soybeans and red meat production.
Iowa's main agricultural products are corn (maize), soybeans, hogs, and cattle, and Iowa ranks among the leading states in the production of the first three commodities.
Of that production, corn is the leading commodity with more than 73 million tons produced. It is followed by production of soybeans, ethanol, soybean meal, hogs, milk and fed cattle.
Of that production, corn is the leading commodity with more than 73 million tons produced. It is followed by production of soybeans, ethanol, soybean meal, hogs, milk and fed cattle.