S.F. No. 2701 Summary

• Modifies withholding statement filing requirements by lowering the electronic submission threshold from 100 statements to 10 statements for wages paid in 2011 and after, with intermediate reductions in 2009-2010.

• Changes sales tax refund provisions to require vendors to refund or credit collected taxes to purchasers within 60 days, with penalties assessed if vendors fail to comply.

• Provides relief from liability for sellers and certified service providers who rely on erroneous state-provided tax data or rate information, and gives 30-day grace periods for rate changes with less than 30 days' notice.

• Establishes new requirements for local government units imposing local taxes to use definitions identical to chapter 297A or consistent with Department of Revenue positions.

• Updates property tax provisions including manufactured home park cooperatives qualifying for homestead treatment, wind energy conversion system capacity factors, and clarifies assessor appraisal report admissibility as evidence.