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Iowa Tax Law Legislative Update


Jim McNulty, Iowa Department of Revenue
Presented September 30th from Noon-1pm (Central)
Iowa Tax Law Legislative Update [Webinar PowerPoint]

This webinar will provide information about tax law changes enacted during the 2014 legislative session. Jim McNulty from the Iowa Department of Revenue will be our guest presenter. Please see this page if you are planning to use this presentation for continuing education credits.
Topics covered will include:

Coupling with federal income tax law changes

Repeal of Iowa estate tax and generation skipping transfer tax

Military retirement pay exclusion

Changes to existing income tax credits
-Historic Preservation tax credit
-Solar energy systems tax credit
-Child and dependent care tax credit
-Volunteer firefighter/EMS tax credit
-Redevelopment tax credit
-Agricultural assets transfer tax credit
-Venture Capital tax credit
-E-15 plus promotion tax credit
New income tax credits
-Workforce housing tax credit
-Adoption tax credit

Sales/use tax changes
-Environment testing services exemption
-Rebates – Iowa Speedway and Knoxville Raceway
-Diesel fuel trailer or seed tender exemption
-One-time registration fee changes

Administrative changes
-Elimination of courtesy notice for motor fuel tax
-Eliminate next month’s interest on notices of assessment for inheritance tax.
Jim McNulty is the Program Manager in the Policy and Communications Division of the Iowa Department of Revenue. Jim has been with the department for over 30 years. Jim’s primary area of expertise is individual and corporation income tax, and Jim is also involved in tax credit programs, legislation, and the protest process. Jim has been in his current position since January, 2001.

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