What Makes Iowa Income Tax Unique?
Federal Tax gets a lot of nightly news hype. Iowa gets left in the dust.
Iowa gets the spotlight today –
Here’s what makes Iowa income tax for 2018 (current filing season) unique!
- Do I meet Iowa income tax filing requirements? #1 question our office receives.
- Iowa Tax Rates range anywhere from 0 to 10%
- What are the standard deductions for each filing status? They are not as high as one thinks they are.
- Iowa is one of few states with a pension exclusion.
- Iowa is on a short list of states that exempts military pension retirement income from taxable income.
- Iowa also doesn’t tax ANY social security monies.
- 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.
- Iowa also has a Tuition and Textbook Credit for k-12
- Iowa has a due date of April 20, 2019 for the individual income tax return