GOVERNOR KIM REYNOLDS HAS SIGNED INTO LAW THE BILL THAT FLATTENS IOWA’S PERSONAL INCOME TAX RATE TO 3.9% BY 2026.
TAXCUT8 OC……………FOR OUR STATE.” :09
THE NEW LAW EXEMPTS ALL RETIREMENT INCOME FROM STATE TAXES.
IT ALSO PROVIDES NEW TAX BREAKS FOR RETIRED FARMERS AND FOR PEOPLE WHO RETIRE FROM EMPLOYEE-OWNED COMPANIES.
REYNOLDS HAS BEEN GOVERNOR SINCE MAY OF 2017.
THIS IS THE THIRD TIME SHE’S SIGNED A BILL DESIGNED TO CUT TAXES, INCLUDING LAST YEAR’S BILL THAT ELIMINATED THE STATE INHERITANCE TAX.
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