What Makes Iowa Income Tax Unique?

Federal Tax gets a lot of nightly news hype. Iowa gets left in the dust.

Until now.

Iowa gets the spotlight today –

Here’s what makes Iowa income tax for 2018 (current filing season) unique!

  1. Do I meet Iowa income tax filing requirements? #1 question our office receives.
  2. Iowa Tax Rates range anywhere from 0 to 10%
  3. What are the standard deductions for each filing status? They are not as high as one thinks they are.
  4. Iowa is one of few states with a pension exclusion.
  5. Iowa is on a short list of states that exempts military pension retirement income from taxable income.
  6. Iowa also doesn’t tax ANY social security monies.
  7. Iowa’s income tax code promotes 529 college savings plans contributions by making the first $3050 contribution per beneficiary an immediate reduction to Iowa taxable income.
  8. Iowa also has a Tuition and Textbook Credit for k-12
  9. Iowa has a due date of April 20, 2019 for the individual income tax return