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Recyclers News Press
Rebuilder Tax Basis – Jim Piazza gave a recap of
what is going on with the rebuilder tax issue. Jim said
Paul Steier, DOT, has met with the Treasurer’s Office
on July 10
th
to propose a 25% reduction of book value
for a rebuilder on branded titles as the value for taxa-
tion. This forces our hand at getting a report with cit-
able reference for making the case for 50% of market
value. Jim stated he sent an email asking to meet
and to reiterate that the receipt is the value. Sue said
it’s been brought to her attention that there already is
an affidavit system in place. Make the buyer sign an
affidavit. After lots of discussion on this subject, it
was decided that Jim would request a meeting with
the Department of Revenue, Department of Transpor-
tation, the Treasurer’s Office and the IAR (Clyde &
Sue) to address the tax on salvage at auction to pub-
lic buyers. Our position is that we want receipts on
sales for taxes not based on book value. Sue said
she will contact the Department of Revenue to talk to
them about the rebuilder tax.
Meeting Schedule
August 19, 2014 – 5:15 pm – Conference call
September 16, 2014 – Okoboji Grille; Pleasant Hill
Technology Round Table at NOON then Board Meet-
ing at 1:00 pm to address Strategic Planning of Legis-
lative Priorities
October 14, 2014 – 5:15 pm – Conference call
November 18, 2014 – 5:15 pm – Conference call
December 9, 2014 – 5:15 pm – Conference cal
January 2015 – Board meeting & Hill Day
Brad made a motion to adjourn with a 2
nd
from Brent.
The meeting was adjourned at 6:34 p.m.
Respectfully submitted
Jeff Smid
Jeff Smid, Secretary
Iowa Automotive Recyclers
Board of Directors Meeting
July 15, 2014 5:15 pm
Teleconference
