Iowa Department Of Revenue, Iowa Tax
Iowa Business Corporate Tax, Iowa Personal Income Tax, Iowa Sales Tax Rates
What are the Iowa corporate net income tax rates?
| 0-25,000 | 6% |
| 25,000-100,000 | 8% |
| 100,000-250,000 | 10% |
| 2500+ | 12% |
For those of you scoring at home, Iowa has the highest corporate income tax for companies in the top tax bracket.
What are the Iowa personal net income tax rates?
| 0-1,407 | .36% |
| 1,407-2,814 | .72% |
| 2,814-5,628 | 2.43% |
| 5,628-12,663 | 4.5% |
| 12,663-21,105 | 6.12% |
| 21,105- 28,140 | 6.48% |
| 28,140-42,210 | 6.8% |
| 42,210-63,315 | 7.92% |
| 63,315 + | 8.98% |
A lot of cities and counties have an income tax of around .3%.
What is the average Iowa sales tax rate?
6.94%. The state has a 6% tax, but the average local tax is .94%, making a total of 6.94%.
Are there standard deductions?
Single: $1,750
Joint: $4,310
Are there personal exemptions?
Single: $40
Dependents: $40
What forms do you file for your Iowa taxes?
C corporations: Form IA 1120
S corporations: Form IA-1120S
Partnerships: Form IA-1065
Individual: Form IA 1040
To learn more about nonprofit filings, see our Iowa nonprofit corporation page.
Estimated tax payments?
Form 1120 ES for corporations in Iowa with more than $1000 in tax owed. Persons owing more than $200 in tax will have to send in quarterly payments at least 100% of their previous years return or 5% of their gross income in Iowa. Whichever is lesser by computing the tax on form 1040ES.
Iowa Department of Revenue:
Iowa Department of Revenue
Hoover State Office Building
1305 E. Walnut
Des Moines, IA 50319
Telephone: 515-281-3114 or 800-367-3388
F: 515-242-6487
Website: Iowa Department of Revenue
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