Chapter 293 — Tax on Income Reserved to Donor in Conveyance to Educational Institution

293.01 Tax on Income Reserved to Donor in Conveyance to Educational Institution This section imposes a tax on income that a person keeps for themselves when they transfer property to an educational …

293.02 Person This section defines 'person' for purposes of the tax on income reserved from donations to educational institutions.

293.03 Place of Taxation; Lien This section establishes where the tax is assessed and creates a lien on the property for unpaid taxes. The tax is …

293.04 Annual Report by Taxpayer This section requires taxpayers subject to this tax to file an annual report with the commissioner of revenue showing …

293.05 Report by Educational Institution This section requires educational institutions that received property donations to file reports with the commissioner of …

293.06 Consideration and Determination of Report This section gives the commissioner of revenue the authority to review reports and determine the correct amount of tax …

293.07 Penalty for Failure to Make Report; Assessment by Commissioner of Revenue This section sets penalties for failing to file the required tax report. If the taxpayer does not file, the commissioner …

293.08 Date of Payment; Penalty for Nonpayment This section establishes when the tax must be paid and the penalties for late payment, including interest and additional …

293.09 Withholding of Tax by Educational Institution; Liability on Failure to Withhold This section allows the educational institution to withhold the tax amount from income before distributing it to the …

293.10 Draft on Delinquent; Evidence This section allows the commissioner to issue a draft (demand for payment) against a delinquent taxpayer and describes …

293.11 Notice to Taxpayer; Action by Commissioner of Revenue; Interest; Lien of Judgment; Sale This section describes the collection process for delinquent taxes, including notice requirements, legal action by the …

293.12 False Report; Perjury This section makes it a crime (perjury) to knowingly file a false report about income from donated property.

293.13 Examination of Books and Papers; Refusal as Misdemeanor This section gives the commissioner the power to examine books, papers, and records related to this tax. Refusing to …

293.14 Refund of Tax Erroneously Collected; Disposition of Proceeds This section allows taxpayers who paid too much tax to get a refund and explains how the tax revenue collected is …

293.15 Forms This section authorizes the commissioner of revenue to create and distribute the forms needed to administer this tax.