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No one gets excited about paying taxes so we eliminate the following tax burdens:
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No sales or use tax on industrial machinery/equipment/computers |
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No sales tax on purchases of electricity or natural gas used directly
in the manufacturing process |
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No property tax on manufacturing machinery/equipment/computers |
Personal
Property Tax - Iowa does not tax personal property
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Inventory Tax -
Personal property includes corporate inventories of goods-in-process,
raw materials and salable goods, so you won't be taxed here
either.
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Corporate
Income Tax - 50% deductibility of federal taxes from
Iowa corporate income. Iowa is one of only five states that
offers this important deductible. A single-factor, non-unitary
tax-Iowa's tax is based only on the percentage of total sales
income within the state.
Iowa imposes an alternative minimum tax equal to 7.2% of Iowa
tax preferences. Iowa's corporate income tax can also be reduced
or eliminated by the New Jobs Tax Credit, High Quality Job Creation
Program or Enterprise Zone Benefits.
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| Iowa State Sales Tax - The tax
is imposed on gross receipts from sales of taxable tangible
personal property and taxable (enumerated) services. Exceptions
include industrial machinery, equipment and computers. |
More
on Iowa's tax policies
Iowa
Property Tax overview
Iowa
Sales & Use tax
Register
your corporation
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