Iowa once again rates very poorly in the annual Tax Climate Index released by the Tax Foundation. Iowa ranks 46th (5th-worst) in business tax climate, and 42nd (9th-worst) in individual income tax climate.
Iowa has the highest top corporate tax rate in the nation (at 12%) and a complex system of corporate taxation overall. On the individual side, Iowa ranks low because of high rates and complexity.
This should come as no surprise to anyone who has dealt with filing an Iowa tax return. You can read the full report here.
“This blog post, along with comments that may follow, should not be considered tax advice. Before you make final tax or financial decisions, please secure a professional tax advisor to give you advice about your unique situation. To secure Jason as your accountant, please click on the ‘Services’ link at the top of the page.”