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Iowa Department of Revenue, Iowa Tax

We’re Just Not Annoying®

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:  http://www.iowa.gov/tax/

If you use Northwest Registered Agent as your Iowa LLC or corporation, receive notification reminders to file your annual reports on time, annual tax reminders, and new State information reminders. All for a low annual flat rate fee of $125 a year. We also help incorporate new Iowa businesses for only $100.

Corporate Compliance
by Local Corporate Guides®