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Can Iowa survive a limit on its subsidies for Hollywood?
It’s suddenly occurred to our legislators that our current no-limits subsidy program for filmmakers may not be entirely wise. The Des Moines Register reports: Companies that create high-quality jobs in...
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Big week for federal deductibility
This may be the last week before the Iowa General Assembly heads home for the year (promises, promises), and several key tax issues remain unresolved. The biggest issue, of course, is the attempt to...
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An Iowa Corporate Welfare Frenzy
As busy as they are in scrambling to get out of town, the Iowa General Assembly still finds time to give more of your money to the well-lobbied by way of tax credits. Three bills advanced yesterday: -...
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Kick ‘em when they’re down: Iowa looks to raise taxes of businesses with losses
A little-noticed hidden tax increase advanced in the Iowa House yesterday. The bill (SF 483), primarily touted for putting a cap on corporate welfare tax credits, would also end the ability of Iowa...
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Great moments in legislative compromise
Governor Culver: Let’s spend $750 million we don’t have on things we don’t need. Iowans: No, let’s not. Legislature: OK, $650 million, then.
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Frenzy day at the statehouse?
Reporter Charlotte Eby hints at her Twitter feed that the Iowa Legislature might pull an all-nighter to maximize the damage complete their business for the session and adjourn. Open tax items include:...
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They kicked ‘em when they were down
The Iowa House tonight went along with the repeal of Iowa’s corporation net operating loss carryback, effective starting with 2009 losses. After rejecting an amendment to strip the loss language from...
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Federal deductibility survives; Corporate NOL carrybacks don’t.
The General Assembly went home for the year after 5 a.m. yesterday without killing the Iowa deduction for federal taxes paid. They were never able to get the 51st vote they needed to get this tax...
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Tax return mission creep
Get a load of this recently-passed Iowa legislation (SF 389, Sec. 26): Beginning with the income tax return for tax year 2010, a person who files an individual or joint income tax return with the...
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Lots of changes
Roger McEowen has put together a great summary of Iowa tax changes arising out of the recent General Assembly session.
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