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IMU Board of Trustees September 14, 2015, City Hall Council Chambers 6:00 p.m. Agenda 1. Roll Call2. Public Comments3. Recess Into an Exempt Session Under Iowa Code, Chapter 20.17(3) to Discuss Union
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Recess into an exempt refers to a process where certain income or assets are excluded from taxation.
Individuals or entities with exempt income or assets are required to file recess into an exempt.
To fill out recess into an exempt, taxpayers must report their exempt income or assets on the appropriate tax forms.
The purpose of recess into an exempt is to ensure that income or assets that are considered exempt from taxation are properly accounted for.
Taxpayers must report details of their exempt income or assets, including the type of income or assets and the reason for their exemption.
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