The Iowa Fiscal Partnership is a joint initiative of two nonpartisan organizations, the Iowa Policy Project and the Child and Family Policy Center, providing reliable information and analysis on Iowa budget and tax issues.
Learn about us and find out how to donate to our work for all Iowans.
No income taxes, big checks from the state
Large, profitable corporations receive checks from the state without paying any Iowa income tax through Iowa’s Research Activities Credit (RAC). The latest annual report from the Department of Revenue on the RAC shows about 300 corporate claims worth $49.1 million from the program in 2016. More than $4 of every $5 from this subsidy — $40.4 million — was paid out as checks, not as tax reductions.
Iowa’s low business taxes Iowa taxes that fall on businesses are lower than the national average — with the corporate income tax rate lower than all but 14 states. Not that you hear that very often in political debate. Read this report
SNAP Almost 200,000 households in Iowa benefit from Food Assistance. Read this report
A joint effort of THE IOWA POLICY PROJECT and CHILD & FAMILY POLICY CENTER
Iowa Policy Project | 20 E. Market Street, Iowa City, IA 52245 | E-mail: ipp(at)Lcom.net | Phone: 319-338-0773 | Fax: 319-354-4130
Child & Family Policy Center | 505 5th Ave., Suite 404, Des Moines, IA 50309 | E-mail: info(at)cfpciowa.org | Phone: 515-280-9027 | Fax: 515-244-8997