The tax bill Governor Kim Reynolds signed into law this week includes a sales tax break for the state's Food Banks. The state sales tax isn't charged on food, but Iowa food banks pay an estimated $200,000 every year in sales taxes on other supplies and equipment. Linda Gorkow, executive director … [Read more...]
Iowa’s governor to seek more personal income tax cuts in 2022
Republican Governor Kim Reynolds has signed a wide-ranging bill into law that cuts personal income taxes, gradually gets rid of the state inheritance tax and erases a property tax levy used to finance mental health services. State money is to be used to finance the mental health system. "Health … [Read more...]
Feenstra says tax change on inherited property would hurt farming community
Republican Congressman Randy Feenstra says a tax change President Biden has proposed is "effectively the death tax with a new coat of paint." The proposal would treat the transfer of inherited property like a sale, so capital gains taxes would be collected. "This dramatically affects our farming … [Read more...]
Reynolds approves spending boost for Iowa state parks
Governor Kim Reynolds chose Black Hawk State Park in Lake View as the backdrop for a bill-signing ceremony to approve a budget that expands spending on the state park system by $2 million. The plan also includes about $42 million for a variety of water quality initiatives. Reynolds noted the … [Read more...]
In past 11 months, State of Iowa has collected $7.3 billion in taxes
After the pandemic hit to the Iowa economy a year ago, state tax receipts now are soaring. The state's fiscal year ends later this month, on June 30. Net tax revenue for the state of Iowa in the past 11 months is more than $7.3 billion. It's about $1 billion more than same 11 month period in the … [Read more...]
Potential for new property tax levy for Iowa EMS
Iowa voters could establish a new local property levy to provide funding for Emergency Medical Services under a provision included a bill that cleared the legislature late last night. Representative Bobby Kaufmann, a Republican from Wilton, says ambulance services have been lobbying for this for 50 … [Read more...]
2021 Iowa Legislature session has adjourned for the year
The Iowa legislature made a few final decisions on a $8.18 billion state budget plan and voted to prohibit cities, counties and schools from having mask mandates before concluding the 2021 session for the year shortly before midnight. Senate Majority Leader Jack Whitver of Ankeny said the … [Read more...]
GOP sorting out final issues, 2021 Iowa legislature could end today
Republican lawmakers have sent their tax deal to the governor and made key spending decisions, like agreeing to expand the state prison system's budget by 20 million. This could be the final day of the 2021 legislative session, but Senate Majority Leader Jack Whitver, a Republican from Ankeny, said … [Read more...]
House sends tax bill to governor; Reynolds calls it a ‘win for Iowans’
House Republicans have sent the governor a tax plan that ensures another round of income tax cuts go into effect in 2023. It gets rid of the state inheritance tax and it shifts the responsibility for funding for mental health services from counties to the state. That shift eliminates a property tax … [Read more...]
Statehouse Republicans strike deal on mental health funding, tax cuts
Iowa will no longer be the only state that uses property taxes to finance its mental health system. After weeks of negotiations, Republicans in the legislature now have a compromise tax plan that includes that change. "It's taken a bit longer to get here folks simply because we wanted to stand … [Read more...]