Iowa Code § 422.15 — Information at source

1. Every person or corporation being a resident of or having a place of business in this state, including lessees or mortgagors of real or personal property , fiduciaries, employers and all officers and employees of the state or of any political subdivision of the state, or agent of the person or corporation, having the control, receipt, custody , disposal or payment of interest other than interest coupons payable to bearer , rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, unemployment compensation, royalties, patronage dividends, or other fixed or determinable annual or periodical gains, profits and income, in an amount sufficient to require that an information return be filed under the Internal Revenue Code if the income is subject to federal tax, paid or payable during any year to any individual, whether a resident of this state or not, shall make a complete information return under such regulations and in such form and manner and to such extent as may be prescribed by the director . However , the person or corporation shall not be required to file an information return if the information is available to the department from the internal revenue service. 2. a. Every partnership, including limited partnerships, doing business in this state, or deriving income from sources within this state as defined in section 422.32, subsection 1 , paragraph “g” , shall make a return, stating specifically the net income and capital gains or losses reported on the federal partnership return, the names and addresses of the partners, and their respective shares in said amounts. b. (1) A partnership required to file a return under paragraph “a” , shall file the return in an electronic format specified by the department in a tax year in which any of the following circumstances apply: (a) The partnership has two hundred fifty thousand dollars or more in total gross receipts, as defined by rule by the department. (b) The partnership is required to provide ten or more Iowa schedules K -1 to the partners. (c) The partnership reports twenty -five thousand dollars or more of Iowa tax credits on the return. (2) This paragraph “b” applies to any form or schedule supporting a return required to be electronically filed or any amended return if the amended return meets any of the circumstances requiring electronic filing in this paragraph. c. (1) Notwithstanding paragraph “b” , the department may provide an exception to the electronic filing requirement. (2) A return subject to the electronic filing requirement in paragraph “b” that is filed in a manner other than an electronic format specified by the department shall not be considered a valid return unless the department provides an exception pursuant to this paragraph. d. The department shall adopt rules to implement this subsection . 3. Every fiduciary shall make a return for the individual, estate, or trust for whom or for which the fiduciary acts, and shall set forth in such return the taxable income, the names and addresses of the beneficiaries, and the amounts distributed or distributable to each as reported on the federal fiduciary income tax return. Such return may be made by one or two or more joint fiduciaries. 4. Notwithstanding subsections 1, 2, and 3 , or any other provision of this chapter , withholding of income tax and any reporting requirement shall not be imposed upon a person, corporation, or withholding agent or any payor of deferred compensation, pensions, or annuities with regard to such payments made to a nonresident of the state.