Form 78-499 - Motor Vehicle Lease Tax Form - State Of Iowa (Page 2 of 4) in pdf

Form 78-499 - Motor Vehicle Lease Tax Form - State Of Iowa Page 2

h. Refundable deposit ............................................................................... h. _____________

i. Finance charges applicable on any of the above-excluded items ......... i. _____________

TOTAL OF ITEMS a - i / enter on line 7. _____________

7. _____________

8. Subtract line 7 from line 6 and enter the total here.This is the “Lease Price” that is to be

entered on the “Application of Title” form. ................................................................................... 8. _____________

9. Multiply the amount entered on line 8 by 5% to determine the “lease tax due to the

State of Iowa.” NOTE: Line 7c and line 9 may vary, but should not vary by more

than $1; this is acceptable. .............................................................................................. X .05 = 9. _____________

Application of Title

The “Lease Price” reflected on line 8 should be listed on the “Application of Title” form to the left of the area

designated for the “Signature of Applicant 1”. A check to the county treasurer in the amount indicated in line 9 should

accompany your “Application of Title” form and license fees. You should also submit a UT-510 exemption certificate

form indicating this is a “leased vehicle” in the blank designated as “other” on this form.

Payment of the Tax

Refunds

Vehicles entering Iowa

Iowa department of Revenue and Finance

78-499 (03/01)

Form 78-499 - Motor Vehicle Lease Tax Form - State Of Iowa Page 2