The top Republican in the Iowa Senate says GOP lawmakers are considering a tax package that may raise the state sale one percent, with part of the money financing water quality efforts and the rest used to replace taxes that are cut. "As long as we've in the majority in the Iowa Senate and as … [Read more...]
Lawmaker says peers too chicken to eliminate Iowa tax credits
The legislature is not likely to make wholesale changes in the state's tax credit system according to a panel of lawmakers who spoke today at a meeting of the Iowa Taxpayers Association. Representative Dave Jacoby of Coralville, a Democrat, used a barnyard epithet -- which Radio Iowa has edited … [Read more...]
State Revenue Department update of withholding table may impact your taxes
The Iowa Department of Revenue is updating its income tax withholding tables for 2020 to comply with recent tax laws changes. Revenue spokesman John Fuller says employers will be trimming the amount of Iowa tax withheld from employees' paychecks starting January 1st, meaning, changes in Iowans' … [Read more...]
Panel reviews $200 million in state tax credits
A panel of lawmakers met yesterday to review the dozens of state tax credits that are available. Republican Representative Pat Grassley of New Hartford, a member of the committee, is also Speaker-Select of the Iowa House. He said some credits are decades old and it's hard to know how they'll … [Read more...]
Experts predict a 1.4% increase in state tax revenue
The governor's budget director is urging caution as state tax revenue growth is expected to be much lower this budget year than in the previous one. Iowa Department of Management director Dave Roederer says he doesn't think a recession is near, but he has concerns. "While everything looks pretty … [Read more...]
Allegations lead state to put hold on incentives for Sioux City plant
State officials have frozen tax incentives for a Sioux City pork processing plant due to an investigation of alleged mistreatment of foreigners recruited to work at the plant. Seaboard Triumph Foods was awarded $16.5 million in tax credits and sales tax breaks for the Sioux City facility which … [Read more...]
State of Iowa surplus hits $289.3 million
The governor has announced the State of Iowa's last fiscal year ended with a surplus of nearly $290 million. The state's 12-month fiscal year ended June 30th, but the books don't close until two months later to ensure all receipts and payments are processed. This year's $289.3 million surplus is … [Read more...]
State tax incentives approved for Eddyville, Dubuque, Lime Springs businesses
The Iowa Economic Development Authority has approved state incentives for three businesses that have promised to create 150 new jobs. IEDA spokesperson, Jacque Matsen, says Cargill was awarded tax benefits through the High Quality Jobs program for a $125 million expansion of its Eddyville plant. … [Read more...]
Reynolds says flood-related costs still being calculated
Governor Kim Reynolds says it is too early to assess how much more state money may be needed for flood recovery. "We're going to continue to work with the federal government, work the Corps, work with FEMA, work with HUD to see what the total cost is," Reynolds says. "What's the federal share? … [Read more...]
Voters reject bonds for fitness centers in Orange City and Ames
Voters in two Iowa cities have rejected plans for publicly-financed fitness facilities. It takes a 60 percent "super majority" vote for bond referendums to pass in Iowa. Unofficial results from Orange City indicate only 43 percent of voters supported the $5 million-bond for a proposed "Aspire … [Read more...]