Budget and taxes - Child & Family Policy Center

Budget and taxes

March 2011

Mar 18
March 18
ABCs of Iowa Corporate Income Tax: Dispelling the Myths

This presentation by CFPC director Charles Bruner for the Coalition for a Better Iowa debunks some of the myth's surrounding Iowa's corporate income tax. Bruner notes that Iowa’s corporate income taxes are already low -- lower than the U.S. average and those of most Midwest states -- and have declined in recent years. Iowa’s income tax structure actually encourages large, multi-state corporations to transfer profits from sales in Iowa to other states Meanwhile, most small, independent businesses are Chapter S corporations that file under personal income tax code, and see no benefit from cuts in corporate incomes taxes.

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