DES MOINES, Iowa (AP) — Iowa House Republicans on Monday proposed eliminating retirement income taxes, a move that would cost the state about $2 billion in revenue over the first six years.
Sioux City City Council agenda includes security for skywalks, old Riviera Theatre plans, selling natural gas State revenue experts estimated eliminating retiree benefits from income tax would cost the state about $2 billion in the first six years. Mohr said Iowa “could afford that right now.”...
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1, 2023, that establishes a flat 3.9% personal income tax rate for Iowans, eliminates state income tax on retirement income, and exempts some net capital gains on company stock awarded to employees. Those in the Iowa Poll liked the personal income tax cut, with 54% saying they approved and...
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Now, there are a few options for what happens to the money. If the spouse receiving the money takes it as a regular dispersal, they can do whatever they want with it — but will have to pay regular income tax on it. It can also berolled into another retirement account. Sometimes the...
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