In this webinar, Amy Harris and Jim McNulty with the Iowa Department of Revenue
will co-present an overview of Iowa income and withholding tax credits for business. A facilitated Q&A will follow the presentation. Please see this page if you are planning to use this presentation for continuing education credits
Tax credits covered in this session will include:
Charitable tax credits
Endow Iowa tax credit, school tuition organization tax credit, charitable conservation contribution tax credit, and the farm to food donation tax credit.
Energy tax credits
Biofuel retailer tax credits, renewable energy/wind energy production tax credits, and solar energy system tax credit.
Business activity tax credits
Investment tax credit, Iowa new jobs tax credit, research activities tax credit, workforce housing tax credit, historic preservation tax credit, venture capital credits, and the beginning farmer tax credit programs.
Withholding tax credits
New Jobs Training Program (260E) including supplemental, accelerated career education, targeted jobs withholding, and will review how to report withholding credits when filing returns on eFile & Pay.
Additional topics for discussion will include tax credits requiring Iowa basis adjustment, tax credits requiring Iowa contribution adjustment, and the transfer process for income tax credits.
Amy Harris is the Administrator of the Research and Analysis Division of the Iowa Department of Revenue which includes the Tax Credit Tracking and Analysis Program. Amy has been with the department for 8 years, starting as a Fiscal & Policy Analyst in 2006. Amy’s primary area of expertise is individual income tax and revenue forecasting. Her team also undertakes annual review and evaluation of the many State tax credit programs.
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.