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The new law will give Iowa the sixth-lowest income tax rate in the country among states that impose an income tax. Nine states have no income tax. Iowa's income tax rate is dropping to 3.8%.
Iowa, which also has a Republican trifecta controlling its statehouse and governor's office, is trimming its individual income tax rate to a flat rate of 3.8% starting Jan. 1, down from a top tax ...
This is a table of the total federal tax revenue by state, federal district, and territory collected by the U.S. Internal Revenue Service. Gross Collections indicates the total federal tax revenue collected by the IRS from each U.S. state , the District of Columbia , and Puerto Rico .
The plan, Senate Study Bill 3141, would attempt to lower Iowa's individual income tax, with a current top rate of 5.7%, to zero over a gradual period, using a new state trust and investing through ...
Gov. Kim Reynolds wants to lower Iowa's income tax to a flat 3.5% rate by 2025. Here's what else is in her tax plan. Kim Reynolds wants to cut Iowa taxes — again.
The law builds on a 2022 tax cut that was already set to take Iowa to a 3.9% flat income tax rate in 2026. Iowa's top income tax rate this year is 5.7%. Under the new law, all Iowans will pay a 3. ...
Those cuts will bring Iowa's top individual income tax rate from 8.98% in 2018 to 3.8% next year, taking it from one of the highest individual income tax rates in the country to the sixth lowest.
The income tax cut will cost the state about $99.5 million a year. The tax cut is part of a nearly $14.5 billion spending plan approved Friday by a budget conference committee.
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