by O. Kay Henderson | Mar 26, 2024 | News, Politics & Government
The Iowa House has voted to extend a state tax break for some Iowans who own livestock and get at least half of their annual income from farming. It’s a capital gains tax break for the sale of dairy cattle, work horses and racing horses as well as livestock,...
by O. Kay Henderson | Mar 25, 2024 | News, Politics & Government
The Iowa House has approved the governor’s idea of reducing property taxes for some child care businesses, but it has yet to advance in the Iowa Senate. Commercial child care centers are currently taxed as commercial property and the governor has proposed they...
by O. Kay Henderson | Mar 25, 2024 | News, Politics & Government
A key state senator says the debate over the future of Iowa’s Area Education Agencies, teacher pay and general state funding for schools has delayed decisions on tax policy. “To the big income tax question, we really need to get a budget and figure out...
by O. Kay Henderson | Mar 21, 2024 | News, Politics & Government
Republicans on a Senate committee are advancing a proposed amendment to the Iowa Constitution that would make a single-rate “flat tax” the only legal kind of state income tax. The proposal cleared the Senate Ways and Means Committee with yes votes from the...
by O. Kay Henderson | Mar 15, 2024 | News, Politics & Government
A state panel has made a slight reduction, but still predicts the state will collect over $11 billion in taxes during the fiscal year that begins July 1. Legislators will use today’s Revenue Estimating Conference report as the basis for state spending plans and...