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10-07-2008, 12:54 PM
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Member
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Join Date: Sep 2008
14 posts, read 14,103 times
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state income tax in IA
I am stunned to see how high the rate is...
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10-07-2008, 04:22 PM
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Senior Member
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Join Date: Jul 2007
Location: Marion, IA
1,317 posts, read 645,678 times
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You aint seen nothin yet!
Our corporate tax is the HIGHEST in the nation, and therefore the highest in the world at 12%. Commercial property taxes are also unproportionately high compared to sourrounding states. The legislature every year says 'yeah we gotta do something about that' but pigs will fly before that happens. They love the revenue.
On top of that we have $1 cigarette taxes and a 6% state sales tax (7-8 in some counties).
And then they wonder why there is a brain drain. Most companies take a look at the anti-business climate and run the other way (Illinois, Nebraska, Missouri, etc).
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10-07-2008, 04:31 PM
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Senior Member
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Join Date: Dec 2007
Location: Des Moines
271 posts, read 292,360 times
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Add to that the fact that Obama is almost certainly heading towards the presidency and tax rates will go up even more in the future....
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10-07-2008, 05:06 PM
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Senior Member
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Join Date: Jul 2007
Location: Marion, IA
1,317 posts, read 645,678 times
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Yaaayyyyyy!!!
Obama - Obama - Obama -Obama - - -
Not to mention our democratic state house and governor.
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10-07-2008, 05:35 PM
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Senior Member
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Join Date: Aug 2007
267 posts, read 284,762 times
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Quote:
Originally Posted by zz4guy
You aint seen nothin yet!
Our corporate tax is the HIGHEST in the nation, and therefore the highest in the world at 12%. Commercial property taxes are also unproportionately high compared to sourrounding states. The legislature every year says 'yeah we gotta do something about that' but pigs will fly before that happens. They love the revenue.
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Not entirely true...Iowa uses a bracketed corporate tax structure. Our highest bracket is indeed the highest in the nation and our lowest bracket would be quite average when compared to other states. It all depends where the corporation fits into the bracket structure.
Property taxes (residential and commercial property taxes) can be sky high in Iowa - it depends on the municipality. |
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10-07-2008, 07:04 PM
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I sport the moose logo.
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Join Date: Jul 2008
Location: Central Iowa - Ankeny
338 posts, read 322,777 times
Reputation: 72
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I guess I never realized we were so much higher than everyone else... why?
ps - NObama.
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10-07-2008, 07:49 PM
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14 posts, read 14,103 times
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Quote:
Originally Posted by DMRyan
Add to that the fact that Obama is almost certainly heading towards the presidency and tax rates will go up even more in the future....
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what's the state government thinking then? there is got to be something they can do about it... what are they going to do with all that revenue if no companies want to come in and do business here (i.e. create jobs)? |
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10-07-2008, 09:07 PM
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Member
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Join Date: Sep 2008
14 posts, read 14,103 times
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BTW, I am actually more concerned about its personal income tax, the highest bracket is nearly 9%, and the amount for that bracket isn't even that high (60k or something like that), that's just crazy
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10-07-2008, 11:32 PM
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Senior Member
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Join Date: Sep 2006
3,387 posts, read 2,278,501 times
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Quote:
Originally Posted by moveagain
I am stunned to see how high the rate is...
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you should see how high the residents are! |
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10-08-2008, 02:28 PM
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Senior Member
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Join Date: Jul 2007
Location: Marion, IA
1,317 posts, read 645,678 times
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Quote:
Originally Posted by Chicago60614
you should see how high the residents are!
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You mean the politicians?? |
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