Tax reduction programs available through the state of Iowa may help your company experience higher profitability:
- Brownfield/Grayfield Tax Credit Program qualifying projects can receive tax credits for qualifying costs if certain criteria are met such as green building requirements.
- Enterprise Zones are economically depressed areas in which state and/or local tax benefits are available to businesses and developers making new investments, creating/retaining jobs and building/rehabbing housing in these areas.
- High Quality Jobs Program promotes creation or retention of quality jobs by assisting businesses locating, expanding or modernizing their facilities in Iowa through tax credits/exemptions, and/or refunds.
- New Jobs Tax Credit is an Iowa corporate income tax credit available to a business that has entered into a New Jobs Training Agreement (260E) that will be expanding their Iowa employment base by 10% or more.
- Research Activities Tax Credit is a 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.
- Targeted Jobs Withholding Tax Credit Pilot Program 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.
Investor Tax Credits
Four types of tax credits specifically related to venture capital investments in Iowa are available.