Section 701.104.12. Good faith exception for successor liability.

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For taxes due and unpaid, an immediate successor’s liability for unpaid hotel and motel tax is extinguished if the immediate successor can show that its purchase of the business owing the tax was done “in good faith.” See rule 701—12.14(422,423) for a detailed analysis of immediate successor liability and the “good faith” exception to that liability.
This rule is intended to implement Iowa Code section 421.28 and 2005 Iowa Code Supplement chapter 423A.

                    
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