|
|
You might be using an unsupported or outdated browser. To get the best possible experience please use the latest version of Chrome, Firefox, Safari, or Microsoft Edge to view this website. |
Iowa Income Tax Calculator 2023-2024
If you make $70,000 a year living in Iowa you will be taxed $11,465. Your average tax rate is 10.94% and your marginal tax rate is 22%. This marginal tax rate means that your immediate additional income will be taxed at this rate.
Use our income tax calculator to estimate how much tax you might pay on your taxable income. Your tax is $0 if your income is less than the 2023-2024 standard deduction determined by your filing status and whether you’re age 65 or older and/or blind.
After-Tax Income
$58,535
Featured Tax Software Partner
TurboTax Deluxe
$69
$64
What You Need To Know About Iowa State Taxes
The state of Iowa requires you to pay taxes if you are a resident or nonresident who receives income from an Iowa source. The state income tax rates range from 0% to 8.53%, and the sales tax rate is 6%.
The Hawkeye State offers tax deductions and credits to reduce your tax liability, including a tuition credit, a farm-to-food-donation tax credit, and gambling and theft losses deductions.
Featured Tax Software Partners
1
TurboTax Deluxe
$69
$64
2
TaxSlayer Premium
$57.95
$44.95
3
Cash App Taxes
$0
$0
2021 Iowa Income Tax Brackets and Rates for All Filing Statuses
Income Tax Deductions for Iowa
Standard Deduction
Iowa has its own standard deduction, and the amount you can deduct depends on your filing status. Notably, in Iowa the standard deduction doesn’t allow you to take an additional charitable contribution deduction, as you can on your federal return.
For the 2021 tax year, Iowa’s standard deduction amounts are:
- Single: $2,130
- Married filing separately (on both separate and combined returns): $2,130 for each spouse
- Married filing jointly, head of household, or qualifying widow(er): $5,240
Itemized Deductions
Iowa allows you to itemize deductions, even if you choose not to itemize them on your federal tax return. There are quite a few deductions available, including:
Taxes You Paid
The $10,000 ($5,000 if married filing separately) federal cap on the deduction for state and local taxes doesn’t apply in Iowa, which means you can deduct all eligible state and local taxes you’ve paid. Iowa’s income taxes aren’t deductible on an Iowa return, but taxes withheld or paid to other state and local taxing authorities are eligible.
Casualty and Theft Losses
You can deduct casualty and theft losses to the extent reported on your federal return. However, you must attach federal Form 4684, Casualty and Thefts to your Iowa return.
Gambling Losses
Any gambling losses may be deducted to the extent of your gambling winnings. That said, “gambling losses” refers only to losses from wagering, not to any business expenses related to gambling as a trade or business.
Other Deductions
Iowa offers the opportunity to deduct a few other expenses on your tax return, including: the costs of caring for a disabled relative; car mileage for charitable purposes; and adoption expenses.
Iowa State Income Tax Credits
Tuition and Textbook Tax Credit
You may be eligible for a tax credit toward tuition and other school-related expenses for a dependent in kindergarten through 12th grade. Covered expenses can include tuition, mandatory dues and fees, textbooks, and other required school supplies.
For couples who file separately, the credit must be taken by the parent claiming the child as a dependent.
The credit is worth 25% of your total allowable expenses, up to a maximum of $2,000.
This credit is nonrefundable and doesn’t carry forward.
Volunteer Firefighter and Emergency Medical Services Personnel and Reserve Peace Officer Tax Credit
Qualified volunteer firefighters, EMS personnel and reserve peace officers can claim a tax credit worth up to $250 in honor of their service. The total credit amount you’ll receive is prorated based on the number of months you volunteered during the calendar year.
If you’re considering claiming this credit, a supervisor, such as a fire chief or chief of police, must provide a written statement verifying the number of months you volunteered.
This credit is nonrefundable and doesn’t carry forward.
Farm-to-Food-Donation Tax Credit
If you produce a food commodity and donate it to an Iowa food bank or organization providing emergency meals, you can claim a tax credit worth either $5,000 or 15% of the value of the food you donated during the tax year, whichever is less.
To be eligible for this credit, the food commodity must meet requirements set by the Federal Emergency Food Assistance Program. Additionally, an Authorized Food Organization Receipt must be received from the food organization at the time of donation.
This credit is nonrefundable, but can be carried forward for five years.
Do I Have to Pay Income Tax in Iowa?
Whether you have to file a tax return in Iowa depends on a few factors. Namely, your income, age, filing status and residency status.
Full-year residents must file if they meet the following income thresholds:
Under 65
- Single: $9,000
- All other statuses: $13,500
Over 65
- Single: $24,000
- All other statuses: $32,000
Part-year residents and nonresidents must file an Iowa return if they meet the income requirements above and their net income from Iowa sources is greater than $1,000.
Additionally, anyone subject to Iowa’s tax on lump-sum distributions from employee pension or profit-sharing plans must file, regardless of their income.
Sales Tax and Sales Tax Rate
In Iowa, the state sales tax rate is 6%.
Property Taxes and Property Tax Rates
Property Tax Rates
Property taxes are set at the county level.
Capital Gains Taxes
Capital gains are taxed as ordinary income in Iowa.
Inheritance and Estate Tax and Inheritance and Estate Tax Exemption
Iowa’s estate tax was repealed in 2008. However, the state has an inheritance tax that ranges from 1% to 15%, depending on the amount of the inheritance and the recipient’s relationship to the deceased.
Compare the best tax software of 2024
Compare Your After-Tax Income To Other States
State
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- Delaware
- Florida
- Georgia
- Hawaii
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Missouri
- Montana
- Nebraska
- Nevada
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- Rhode Island
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Vermont
- Virginia
- Washington
- West Virginia
- Wisconsin
- Wyoming
- Washington, D.C.
Income Tax Rate By State
View how much tax you may pay in other states based on the filing status and state entered above.
| State | Net Pay | Effective State Tax Rate | Rank |
|---|---|---|---|
| Alaska | $ 62,340 | 0.00% | 1 |
| Florida | $ 62,340 | 0.00% | 1 |
| Nevada | $ 62,340 | 0.00% | 1 |
| New Hampshire | $ 62,340 | 0.00% | 1 |
| South Dakota | $ 62,340 | 0.00% | 1 |
| Tennessee | $ 62,340 | 0.00% | 1 |
| Texas | $ 62,340 | 0.00% | 1 |
| Washington | $ 62,340 | 0.00% | 1 |
| Wyoming | $ 62,340 | 0.00% | 1 |
| North Dakota | $ 61,569 | 1.10% | 10 |
| Ohio | $ 61,090 | 1.79% | 11 |
| Arizona | $ 60,746 | 2.28% | 12 |
| Rhode Island | $ 60,227 | 3.02% | 13 |
| Pennsylvania | $ 60,191 | 3.07% | 14 |
| Louisiana | $ 60,137 | 3.15% | 15 |
| Indiana | $ 60,111 | 3.18% | 16 |
| New Jersey | $ 60,019 | 3.32% | 17 |
| Colorado | $ 59,830 | 3.59% | 18 |
| New Mexico | $ 59,824 | 3.59% | 18 |
| Vermont | $ 59,816 | 3.61% | 20 |
| Connecticut | $ 59,765 | 3.68% | 21 |
| Wisconsin | $ 59,599 | 3.92% | 22 |
| Michigan | $ 59,577 | 3.95% | 23 |
| Mississippi | $ 59,555 | 3.98% | 24 |
| California | $ 59,552 | 3.98% | 24 |
| Oklahoma | $ 59,552 | 3.98% | 24 |
| Missouri | $ 59,502 | 4.05% | 27 |
| North Carolina | $ 59,483 | 4.08% | 28 |
| Maryland | $ 59,331 | 4.30% | 29 |
| Arkansas | $ 59,185 | 4.51% | 30 |
| Idaho | $ 59,149 | 4.56% | 31 |
| Kansas | $ 59,135 | 4.58% | 32 |
| Alabama | $ 59,105 | 4.62% | 33 |
| South Carolina | $ 59,096 | 4.63% | 34 |
| Virginia | $ 59,086 | 4.65% | 35 |
| Massachusetts | $ 59,060 | 4.69% | 36 |
| West Virginia | $ 59,045 | 4.71% | 37 |
| Washington, D.C. | $ 59,031 | 4.73% | 38 |
| Nebraska | $ 59,017 | 4.75% | 39 |
| Kentucky | $ 59,015 | 4.75% | 39 |
| Maine | $ 59,008 | 4.76% | 41 |
| Illinois | $ 58,992 | 4.78% | 42 |
| Utah | $ 58,982 | 4.80% | 43 |
| Delaware | $ 58,958 | 4.83% | 44 |
| Georgia | $ 58,953 | 4.84% | 45 |
| New York | $ 58,926 | 4.88% | 46 |
| Minnesota | $ 58,864 | 4.97% | 47 |
| Montana | $ 58,744 | 5.14% | 48 |
| Iowa | $ 58,535 | 5.43% | 49 |
| Hawaii | $ 57,587 | 6.79% | 50 |
| Oregon | $ 56,710 | 8.04% | 51 |
