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State income tax systems fall into three broad categories: fixed or flat income taxes, progressive income taxes and no income taxes. ... Iowa. 3.80%. Kansas. 5.2% to 5.58%. Kentucky. 4.0% ...
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
Iowa's income tax season officially begins the same day as federal return processing: Jan. 29, 2024. But, Iowans do have more time to file their state returns compared to their federal returns.
Iowa's income tax is already set to go to a 3.9% flat rate by 2026, ... when she called for lowering the rate to 3.65% for 2024 and 3.5% in 2025 and beyond.
April 10, 2024 at 6:24 PM. ... Gov. Kim Reynolds signed a law in 2022 that will take Iowa to a flat income tax rate of 3.9% by 2026. The state's top rate this year is 5.7% and will drop to 4.82% ...
On the heels of delivering a historic income tax cut just two years ago, Republicans used the 2024 Iowa legislative session to give more than $1 billion in additional tax cuts while also advancing ...
The new law will give Iowa the sixth-lowest income tax rate in the country among states that impose an income tax. Nine states have no income tax. Iowa's income tax rate is dropping to 3.8%.
Reynolds, seeking to build on three prior cuts under her administration, has proposed accelerating a series of gradual reductions to bring Iowa's rate down to a flat tax of 3.65% in 2024.