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Yes, consulting time is taxable in Iowa depending on the type of consulting. For example, a computer repair consultation is taxable while a training consultation is not.

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Do you pay sales tax on labor in Iowa?

All 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 (enumerated) by state law. Labor is not tangible personal property So what that means, is unless the labor is specifically enumerated as a taxable type of service, than labor is NOT taxable. see http://www.state.ia.us/tax/educate/78539.html#ExemptSales for a listing on labor that requires collection of state sales tax.


Are expediting fees taxable?

Expediting fees are generally considered taxable when they are charged for services related to the sale of tangible personal property or taxable services. However, the taxability can vary by jurisdiction and the specific nature of the service provided. It's essential to check local sales tax laws to determine if expediting fees are subject to tax in your area. Consulting with a tax professional can provide clarity based on specific circumstances.


Is a life insurance lump sum payout taxable?

No but if it has earned any interest between the time of death and the payout date, that is taxable. Best to consult a tax attorney.


Are time deposits taxable?

Yes, in most countries the income earned out of the time deposits is taxable. i.e., the interest that the bank pays you for the deposit will be considered an income and taxed accordingly. For ex: In India, let us say your annual income is Rs. 10 lakhs and you earned another Rs. 50,000/- as interest from your time deposit account, your taxable income for this year will be Rs. 10,50,000/-.


Is stipend taxable?

If the stipend was for books or education, it is not taxable. Other stipends may be taxable depending on their purpose.