Iowa Code section 423.3(47)(a)(4) provides a sales and use tax exemption for purchases of computers and computer peripherals used in processing or storage of data or information by an insurance company, financial institution, or commercial enterprise. These entities are defined in Iowa Code section 423.3(47)(d).
The Iowa Department of Revenue is issuing updated income tax withholding formulas and tables for 2024. The Department updates withholding formulas and tables when necessary to account for inflation and for changes in individual income tax liability resulting from changes in Iowa law.
The Department has extended the deadline to make a Pass-Through Entity Tax (PTET) election for tax year 2022 from January 2, 2024 to April 30, 2024. As a result, a tax year 2022 PTET election must be made by the later of the following dates:
The 2022 Iowa General Assembly enacted and Governor Reynolds signed Senate File 2378, a bill that made changes to Iowa’s beverage container deposit and redemption law, commonly known as the “bottle bill.” Beginning November 15, 2023, Iowa Code section 455C.5(1)(b) requires the registration of universal
Des Moines, Iowa – Be prepared. Changes are coming next tax season for Iowans who file individual income tax returns. Individuals who file Iowa income tax, fiduciary, and inheritance taxes can now make payments and manage their accounts through GovConnectIowa, the State’s secure online tax and licensing portal.
The Iowa Department of Revenue is in the third phase of a multi-year initiative aimed at modernizing and simplifying procedures for both individual taxpayers and businesses across the State of Iowa.
Des Moines, Iowa – The Iowa Department of Revenue has finalized individual income tax brackets for the 2024 tax year (applicable for taxes due in 2025) and the 2024 interest rate, which the agency charges for overdue payments.
2020 Iowa Acts, House File 2565 transitions the setoff program from the Iowa Department of Administrative Services to the Iowa Department of Revenue. The Department has released new tax guidance to explain this tax change:
The Iowa Department of Revenue has released tax year 2023 Iowa income tax forms to our secure site for software developers and has communicated these actions to the National Association of Computerized Tax Processors (NACTP), software developers, and other interested parties.