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Tax Incentives


Business Tax Credits

New Business Financing Lots in Iowa These tax reduction programs available through the state of Iowa may help your company experience higher profitability:

Assistive Device Tax Credit — Reduces taxes for small businesses that incur costs through making physical changes to the workplace to help employees with disabilities to get or keep their job.

Brownfield/Grayfield Tax Credit Program — Qualifying projects can receive tax credits for qualifying costs of a Brownfield project and if the project meets green building requirements. Grayfield projects can get tax credits for qualifying costs and projects that meet green building requirements.

Enterprise Zones — Enterprise Zones are economically depressed areas in which state and/or local tax benefits are available to businesses and developers make new investments, create or retain jobs and build or rehabilitate housing in those areas. Businesses locating or expanding in an Enterprise Zone may receive property tax exemptions, funding for employee training, sales tax refunds, Iowa income tax credits, or other tax incentives.

High Quality Jobs Program — This program is designed to promote the creation or retention of quality jobs by assisting businesses locating, expanding or modernizing their facilities in Iowa through a package of tax credits, exemptions, and/or refunds to approved businesses.

New Jobs Tax Credit The Iowa New Jobs Tax Credit is an Iowa corporate income tax credit and is available to a company that has entered into a New Jobs Training Agreement (260E) and expands their Iowa employment base by 10% or more.

The amount of this one-time tax credit will depend upon the wages a company pays and the year in which the tax credit is first claimed. The maximum tax credit in 2009 will be $1,422 per new employee. Unused tax credits may be carried forward up to ten years. The tax credit may be claimed on Form IA 133 found on the Iowa Department of Revenue Web site.

Research Activities Tax Credit — Iowa is one of very few states to have continuously offered this refundable tax credit for increasing a company's research activities. Under certain conditions, this credit may be doubled. A company must meet the qualifications of the Federal Research Activities Credit in order to be eligible for the credit in Iowa.

Iowa's Leadership in Research and Development [PDF: 113k] — Facts About Iowa's Research Activities Credit

Targeted Jobs Withholding Tax Credit Pilot Program — The Targeted Jobs Withholding Tax Credit Pilot Program is a new pilot program enacted in 2006 which allows the diversion of withholding funds paid by an employer to be matched by a designated "pilot" city to create economic incentives that can be directed toward the growth and expansion of targeted businesses located within Urban Renewal areas.

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