Yet another loophole for Iowa?
Questions for Iowa before adopting the pass-through loophole need answers: Costs of $100 million-plus, benefits to wealthy — some vs. others at the same income.
Tax cuts: Already tried, failed
Iowa's coming tax-cut experiment has been tried before and failed. Research showed the tax cuts appear to have slowed growth, taking money out of the ...
Tuition rising — anyone surprised?
There is a price to families when the Legislature chooses not to fund higher education.
RAC: Biggest players win big
Do these highly profitable companies need state subsidies? Would Iowa legislators choose these subsidies over funding for education, human services and public safety?
Yet another loophole for Iowa?
1Tax cuts: Already tried, failed
2Tuition rising — anyone surprised?
3RAC: Biggest players win big
4About IFP
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.
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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 373 corporate claims worth $54.8 million from the program in 2017. Three-fourths of Iowa’s most lucrative business tax subsidy — $43.7 million — was paid out as checks, not as tax reductions.
Read about it here