Iowa Tax FAQs

• taxmOuth Iowa Tax FAQs

Iowa Tax Forms

• taxmOuth Iowa Tax Forms

Iowa Corporate Taxes

• taxmOuth Iowa Corporate Taxes
• Iowa Tax Rates & Brackets:
  
  6%> $0
  7%> $25,000
  10%> $100,000
  12%> $250,000
  
• Loss Carry-back/fwd: 2 Years Back / 20 Years Forward (Unlimited)
• Throwback Sales?: N
• Foreign Tax Deductible?: Y
• Alternative Minimum Tax (AMT): Y
• Gross Receipts Tax: N
• Capital Stock (Net Worth) Tax?: N

Iowa Tax Incentives and Credits

• taxmOuth Iowa Tax Credits
• Job Credits?: Y
• R&D Credits?: Y
• Investment Credits?: Y

Iowa Individual Income Taxes

• taxmOuth Iowa Individual Income Taxes
• Iowa tax rates and brackets:
  
  0.36%> $0
  0.72%> $1,407
  2.43%> $2,814
  4.5%> $5,628
  6.12%> $12,663
  6.48%> $21,105
  6.8%> $28,140
  7.92%> $42,210
  7.8%> $25,441
  
• Local Option IT Rate: 0.30%
• Federal Inc used as Base?: N
• Standard Deductions: Single $1,750 / Joint $4,310
• Personal Exemptions/Credits (c): Single $40(c) / Joint $80(c) / Dependent $40(c)
• Federal Tax Deductible?: Y
• State Tax Deductible?: Y
• Alternative Minimum Tax (AMT)?: Y

Iowa Estate, Gift and Inheritance Taxes

• taxmOuth Iowa Estate and Gift Taxes
• Gift Tax?: N
• Estate Tax?: Copies Federal
• Inheritance Tax?: Y
• Generation-Skipping Tax?: N

Iowa Miscellaneous Taxes

• taxmOuth Iowa Miscellaneous Taxes
• Gas Tax: 22.0 cents/gallon
• Diesel Tax: 23.5 cents/gallon
• Cigarette Tax: 136.0 cents/20 pack

Iowa Pass-through Tax Treatment

• taxmOuth Iowa Pass-through Entity Tax
• LLC Pass-through Recognized?: Y
• S-Corp Pass-through Recognized?: Y

Iowa Payroll Taxes

• taxmOuth Iowa Payroll Taxes
• Unemployment Insurance Tax Index (TaxFoundation.org): #33

Iowa Property Taxes

• taxmOuth Iowa Property Taxes
• Median Tax Paid on Homes (Rank): $1,492 (#28)
• Median Value of Homes: $120,700
• Tax as % of Home Value (Rank): 1.24% (#15)
• Median Income of Homeowner: $59,291
• Tax as % of Income (Rank): 2.52% (#27)

Iowa Sales and Use Taxes

• taxmOuth Iowa Sales and Use Taxes
• State Rate: 6.00%
• County & City (Weighted Ave): 0.94%
• Combined State and Ave. Local Rates (Rank): 6.94% (#24)
• General Treatment of Services: Many Taxable
• Gasoline: Exempt
• Groceries: Exempt