The Iowa Department of Revenue has released new tax guidance addressing the retirement income exclusion language contained within House File 2317. The legislation excludes retirement income from Iowa taxable income for eligible taxpayers for tax years beginning on or after January 1, 2023.
- Retirement Income Tax Guidance
This tax guidance describes what retirement income is eligible for the exclusion, who is eligible for the exclusion, and the withholding requirements for Iowa purposes on retirement income. The Department will update this guidance and administrative rules in the near future to implement these changes.
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