Iowa’s Tax Climate Ranks in Bottom 10

Tax ClimateIn October, Iowa’s business tax climate was ranked in the bottom 10, at number 42 in a report from the Tax Foundation.

The 2013 State Business Tax Climate Index is based on each state’s individual income tax, sales tax, corporate income tax, property tax, and unemployment insurance tax.  Iowa was ranked in the bottom half of every category other than sales tax, and currently has the 2nd highest corporate income tax rate in the nation.

Iowa’s FY 2013 ranks are:

  • Corporate Tax – 49th
  • Property Tax – 37th
  • Unemployment Insurance Tax – 34th
  • Individual Income Tax – 33rd
  • Sales Tax – 24th

This report shows further evidence that Legislature needs enact tax relief and reform.  House Republicans are up to the task to reform and lower Iowa’s taxes and make it a place where new businesses want to grow and thrive.