NO ONE GETS EXCITED ABOUT PAYING TAXES
so we eliminate the following business tax burdens:
No sales or use tax on industrial machinery/equipment/computers
No sales tax on purchases of electricity or natural gas used directly in the manufacturing process
No property tax on manufacturing machinery/equipment/computers
Personal Property Tax - Iowa does not tax personal property
Inventory Tax - Personal property includes corporate inventories of goods-in-process, raw materials and salable goods, so you won't be taxed here either.
Corporate Income Tax - We offer the benefits of a single-factor, non-unitary tax. Iowa's tax is based only on the percentage of total sales income within the state. Multiple tax credit programs and a 50 percent deductibility of federal taxes further reduces the state's corporate tax.
Iowa State Sales Tax - The tax is imposed on gross receipts from sales of taxable tangible personal property and taxable (enumerated) services. Exceptions include industrial machinery, equipment and computers