ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
On April 6, 2016 the governor of Iowa signed into law a bill (SF 2300) that creates a renewable chemical production tax credit, providing a refundable individual and corporate income tax credit that is equal to 5 cents per pound of qualified chemicals produced. The credit is available for chemicals produced beginning January 1, 2017 and ends December 31, 2026. To be eligible to receive the credit a business must be physically located in Iowa. The law also reduces the annual amount of tax credits that may be awarded by Iowa's Economic Development Authority under the high quality jobs program for five fiscal years, capping the annual limit at $105 million.
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