Stat Rep. Tyler Olson Announces Extension of Tax Deadline For Businesses In Flood-Affected Areas

Posted: July 16, 2008

Cedar Rapids--State Representative Tyler Olson announced today the Iowa Department of Revenue is extending the deadline for businesses in flood-affected areas to remit their withholding, unemployment and sales tax. The extension moves the deadline for businesses to remit payment for activity from April 1 to June 30 to August 29, 2008. The previous deadline was July 31, 2008.

"Extending the deadline to make state tax payments for businesses in flood-affected areas gives some flexibility and relief to many Iowans who lost their livelihood," said Olson. "The extension allows businesses to secure SBA or bridge loans before the payments become due and may mean the difference between a business being able to re-open or not."

On Tuesday, Representative Olson requested the Iowa Department of Revenue grant businesses the extension to remit their payments after receiving a phone call from a flood-affected business.

"I appreciate Governor Culver acting quickly to offer some measure of relief to Iowa businesses and look forward to continue working to make sure individuals and businesses have the resources they need to recover and rebuild in Iowa."