Iowa HF601 establishes fees for wire transmissions and provides income tax credits for customers.

Iowa HF601 introduces fees for wire transmissions, with a $5 fee for transmissions up to $500 and an additional 2% fee for amounts exceeding $500. Licensees must remit these fees quarterly to the Department of Revenue. Customers who file an individual income tax return with a valid social security number or taxpayer identification number are entitled to an income tax credit equal to the amount of wire transmission fees paid during the tax year.

Iowa HF601 establishes fees for wire transmissions and provides income tax credits for customers.

Iowa HF601 introduces fees for wire transmissions, with a $5 fee for transmissions up to $500 and an additional 2% fee for amounts exceeding $500. Licensees must remit these fees quarterly to the Department of Revenue. Customers who file an individual income tax return with a valid social security number or taxpayer identification number are entitled to an income tax credit equal to the amount of wire transmission fees paid during the tax year.