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INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES, §422.33
422.33 Corporate tax imposed — credit.
1. A tax is imposed annually upon each corporation doing business in this state, or
deriving income from sources within this state, in an amount computed by applying the
following rates of taxation to the net income received by the corporation during the income
year:
a. On the first twenty-five thousand dollars of taxable income, or any part thereof, the rate
of six percent.
b. On taxable income between twenty-five thousand dollars and one hundred thousand
dollars or any part thereof, the rate of eight percent.
c. On taxable income between one hundred thousand dollars and two hundred fifty
thousand dollars or any part thereof, the rate of ten percent.
d. On taxable income of two hundred fifty thousand dollars or more, the rate of twelve
percent.
1A. There is imposed upon each corporation exempt from the general business tax on
corporations by section 422.34, subsection 2, a tax at the rates in subsection 1 upon the state’s
apportioned share computed in accordance with subsections 2 and 3 of the unrelated business
income computed in accordance with the Internal Revenue Code and with the adjustments
set forth in section 422.35.
2. a. If the trade or business of the corporation is carried on entirely within the state, the
tax shall be imposed on the entire net income, but if the trade or business is carried on partly
within and partly without the state or if income is derived from sources partly within and
partly without the state, or if income is derived from trade or business and sources, all of
which are not entirely in the state, the tax shall be imposed only on the portion of the net
income reasonably attributable to the trade or business or sources within the state, with the
net income attributable to the state to be determined as follows:
(1) Nonbusiness interest, dividends, rents and royalties, less related expenses, shall be
allocated within and without the state in the following manner:
(a) Nonbusiness interest, dividends, and royalties from patents and copyrights shall be
allocable to this state if the taxpayer’s commercial domicile is in this state.
(b) Nonbusiness rents and royalties received from real property located in this state are
allocable to this state.
(c) Nonbusiness rents and royalties received from tangible personal property are allocable
to this state to the extent that the property is utilized in this state; or in their entirety if the
taxpayer’s commercial domicile is in this state and the taxpayer is not taxable in the state
in which the property is utilized. The extent of utilization of tangible personal property in
a state is determined by multiplying the rents and royalties by a fraction, the numerator of
which is the number of days of physical location of the property in the state during the rental
or royalty period in the taxable year and the denominator of which is the number of days of
physical location of the property everywhere during all rental or royalty periods in the taxable
year. If the physical location of the property during the rental or royalty period is unknown,
or unascertainable by the taxpayer tangible personal property is utilized in the state in which
the property was located at the time the rental or royalty payor obtained possession.
(d) Nonbusiness capital gains and losses from the sale or other disposition of assets shall
be allocated as follows:
(i) Gains and losses from the sale or other disposition of real property located in this state
are allocable to this state.
(ii) Gains and losses from the sale or other disposition of tangible personal property
are allocable to this state if the property had a situs in this state at the time of the sale or
disposition or if the taxpayer’s commercial domicile is in this state and the taxpayer is not
taxable in the state in which the property had a situs.
(iii) Gains and losses from the sale or disposition of intangible personal property are
allocable to this state if the taxpayer’s commercial domicile is in this state.
(2) Net nonbusiness income of the above class having been separately allocated and
deducted as above provided, the remaining net business income of the taxpayer shall be
allocated and apportioned as follows:
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§422.33, INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES
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(a) Business interest, dividends, rents, and royalties shall be reasonably apportioned
within and without the state under rules adopted by the director.
(b) Capital gains and losses from the sale or other disposition of assets shall be
apportioned to the state based upon the business activity ratio applicable to the year the gain
or loss is determined if the corporation determines Iowa taxable income by a sales, gross
receipts or other business activity ratio. If the corporation has only allocable income, capital
gains and losses from the sale or other disposition of assets shall be allocated in accordance
with subparagraph (1), subparagraph division (d).
(c) Where income is derived from business other than the manufacture or sale of tangible
personal property, the income shall be specifically allocated or equitably apportioned within
and without the state under rules of the director.
(d) Where income is derived from the manufacture or sale of tangible personal property,
the part attributable to business within the state shall be in that proportion which the gross
sales made within the state bear to the total gross sales.
(e) (i) Notwithstanding subparagraph division (c), where income is derived by a
broadcaster from broadcasting, the part attributable to business within the state shall be
in the proportion that the gross receipts from broadcasting derived from customers whose
commercial domicile is in this state bears to the total gross receipts from broadcasting.
(ii) Notwithstanding subparagraph subdivision (i) or subparagraph division (c), where
income is derived by a broadcaster from national or local political advertising that is directed
exclusively at one or more markets in this state, all gross receipts from such advertising shall
be attributable to business within the state.
(iii) For purposes of this subparagraph division:
(A) “Broadcaster” means a taxpayer who is engaged in the business of broadcasting.
“Broadcaster” includes a television network, a cable program network, and a television
distribution company. “Broadcaster” does not include a cable system operator, a direct
broadcast satellite system operator, or a television or radio station licensed by the federal
communications commission.
(B) “Broadcasting” means the transmission of film programming by an electronic or
other signal conducted by microwaves, wires, lines, coaxial cables, wave guides, fiber optics,
satellite transmissions, or through any other means of communication directly or indirectly
to viewers and listeners.
(C) “Customer” means a person who has a direct contractual relationship with a
broadcaster from whom the broadcaster derives gross receipts. “Customer” includes but is
not limited to an advertiser or licensee.
(D) “Gross receipts from broadcasting” means gross receipts of a broadcaster from
transactions and activities in the regular course of its business, including but not limited to
advertising, licensing, and distribution, but excluding gross receipts from the sale of real
property or tangible personal property.
(f) Notwithstanding subparagraph division (c), income described in section 29C.24,
subsection 3, paragraph “a”, subparagraph (3), shall not be allocated and apportioned to the
state, as provided in section 29C.24.
(g) Where income consists of more than one class of income as provided in subparagraph
divisions (a) through (e) of this subparagraph, it shall be reasonably apportioned by the
business activity ratio provided in rules adopted by the director.
(h) The gross sales of the corporation within the state shall be taken to be the gross sales
from goods delivered or shipped to a purchaser within the state regardless of the F.O.B. point
or other conditions of the sale, excluding deliveries for transportation out of the state.
b. For the purpose of this subsection:
(1) “Manufacture” shall include the extraction and recovery of natural resources and all
processes of fabricating and curing.
(2) “Sale” shall include exchange.
(3) “Tangible personal property” shall be taken to mean corporeal personal property, such
as machinery, tools, implements, goods, wares, and merchandise, and shall not be taken
to mean money deposits in banks, shares of stock, bonds, notes, credits, or evidence of an
interest in property and evidences of debt.
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Iowa Code 2017, Section 422.33 (92, 8)
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INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES, §422.33
3. If any taxpayer believes that the method of allocation and apportionment hereinbefore
prescribed, as administered by the director and applied to the taxpayer’s business, has
operated or will so operate as to subject the taxpayer to taxation on a greater portion of
the taxpayer’s net income than is reasonably attributable to business or sources within the
state, the taxpayer shall be entitled to file with the director a statement of the taxpayer’s
objections and of such alternative method of allocation and apportionment as the taxpayer
believes to be proper under the circumstances with such detail and proof and within such
time as the director may reasonably prescribe; and if the director shall conclude that the
method of allocation and apportionment theretofore employed is in fact inapplicable and
inequitable, the director shall redetermine the taxable income by such other method of
allocation and apportionment as seems best calculated to assign to the state for taxation the
portion of the income reasonably attributable to business and sources within the state, not
exceeding, however, the amount which would be arrived at by application of the statutory
rules for apportionment.
4. a. In addition to all taxes imposed under this division, there is imposed upon each
corporation doing business within the state the greater of the tax determined in subsection
1, paragraphs “a” through “d” or the state alternative minimum tax equal to sixty percent
of the maximum state corporate income tax rate, rounded to the nearest one-tenth of one
percent, of the state alternative minimum taxable income of the taxpayer computed under
this subsection.
b. The state alternative minimum taxable income of a taxpayer is equal to the taxpayer’s
state taxable income as computed with the adjustments in section 422.35 and with the
following adjustments:
(1) Add items of tax preference included in federal alternative minimum taxable income
under section 57, except subsections (a)(1) and (a)(5), of the Internal Revenue Code, make
the adjustments included in federal alternative minimum taxable income under section
56, except subsections (a)(4) and (d), of the Internal Revenue Code, and add losses as
required by section 58 of the Internal Revenue Code. In making the adjustment under
section 56(c)(1) of the Internal Revenue Code, interest and dividends from federal securities
and interest and dividends from state and other political subdivisions and from regulated
investment companies exempt from federal income tax under the Internal Revenue Code,
net of amortization of any discount or premium, shall be subtracted.
(2) Apply the allocation and apportionment provisions of subsection 2.
(3) Subtract an exemption amount of forty thousand dollars. This exemption amount shall
be reduced, but not below zero, by an amount equal to twenty-five percent of the amount by
which the alternative minimum taxable income of the taxpayer, computed without regard to
the exemption amount in this subparagraph, exceeds one hundred fifty thousand dollars.
(4) In the case of a net operating loss computed for a tax year beginning after December
31, 1986, which is carried back or carried forward to the current taxable year, the net
operating loss shall be reduced by the amount of items of tax preference and adjustments
arising in the tax year which is taken into account in computing the net operating loss in
section 422.35, subsection 11. The deduction for a net operating loss for a tax year beginning
after December 31, 1986, which is carried back or carried forward to the current taxable
year shall not exceed ninety percent of the alternative minimum taxable income determined
without regard for the net operating loss deduction.
5. a. The taxes imposed under this division shall be reduced by a state tax credit for
increasing research activities in this state equal to the sum of the following:
(1) Six and one-half percent of the excess of qualified research expenses during the tax
year over the base amount for the tax year based upon the state’s apportioned share of the
qualifying expenditures for increasing research activities.
(2) Six and one-half percent of the basic research payments determined under section
41(e)(1)(A) of the Internal Revenue Code during the tax year based upon the state’s
apportioned share of the qualifying expenditures for increasing research activities.
b. The state’s apportioned share of the qualifying expenditures for increasing research
activities is a percent equal to the ratio of qualified research expenditures in this state to the
total qualified research expenditures.
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c. In lieu of the credit amount computed in paragraph “a”, subparagraph (1), a corporation
may elect to compute the credit amount for qualified research expenses incurred in this state
in a manner consistent with the alternative simplified credit described in section 41(c)(5) of
the Internal Revenue Code. The taxpayer may make this election regardless of the method
used for the taxpayer’s federal income tax. The election made under this paragraph is for the
tax year and the taxpayer may use another or the same method for any subsequent year.
d. For purposes of the alternate credit computation method in paragraph “c”, the credit
percentages applicable to qualified research expenses described in section 41(c)(5)(A)
and clause (ii) of section 41(c)(5)(B) of the Internal Revenue Code are four and fifty-five
hundredths percent and one and ninety-five hundredths percent, respectively.
e. (1) For purposes of this subsection, “base amount”, “basic research payment”, and
“qualified research expense” mean the same as defined for the federal credit for increasing
research activities under section 41 of the Internal Revenue Code, except that for the
alternative simplified credit such amounts are for research conducted within this state.
(2) For purposes of this subsection, “Internal Revenue Code” means the Internal Revenue
Code in effect on January 1, 2015.
f. Any credit in excess of the tax liability for the taxable year shall be refunded with interest
computed under section 422.25. In lieu of claiming a refund, a taxpayer may elect to have the
overpayment shown on its final, completed return credited to the tax liability for the following
taxable year.
g. A corporation which is an eligible business may claim an additional research activities
credit authorized pursuant to section 15.335.
h. The department shall by February 15 of each year issue an annual report to the general
assembly containing the total amount of all claims made by employers under this subsection
and the portion of the claims issued as refunds, for all claims processed during the previous
calendar year. The report shall contain the name of each claimant for whom a tax credit in
excess of five hundred thousand dollars was issued and the amount of the credit received.
6. The taxes imposed under this division shall be reduced by a new jobs tax credit. An
industry which has entered into an agreement under chapter 260E and which has increased
its base employment level by at least ten percent within the time set in the agreement or, in the
case of an industry without a base employment level, adds new jobs within the time set in the
agreement is entitled to this new jobs tax credit for the tax year selected by the industry. In
determining if the industry has increased its base employment level by ten percent or added
new jobs, only those new jobs directly resulting from the project covered by the agreement
and those directly related to those new jobs shall be counted. The amount of this credit is
equal to the product of six percent of the taxable wages upon which an employer is required
to contribute to the state unemployment compensation fund, as defined in section 96.19,
subsection 37, times the number of new jobs existing in the tax year that directly result from
the project covered by the agreement or new jobs that directly result from those new jobs.
The tax year chosen by the industry shall either begin or end during the period beginning with
the date of the agreement and ending with the date by which the project is to be completed
under the agreement. Any credit in excess of the tax liability for the tax year may be credited
to the tax liability for the following ten tax years or until depleted in less than the ten years.
For purposes of this section, “agreement”, “industry”, “new job” and “project” mean the same
as defined in section 260E.2 and “base employment level” means the number of full-time jobs
an industry employs at the plant site which is covered by an agreement under chapter 260E
on the date of that agreement.
7. a. (1) There is allowed as a credit against the tax determined in subsection 1 for a tax
year an amount equal to the minimum tax credit for that tax year.
(2) The minimum tax credit for a tax year is the excess, if any, of the net minimum tax
imposed for all prior tax years beginning on or after January 1, 1987, over the amount
allowable as a credit under this subsection for those prior tax years.
b. (1) The allowable credit under paragraph “a” for a tax year shall not exceed the
excess, if any, of the tax determined in subsection 1 over the state alternative minimum tax
as determined in subsection 4.
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Iowa Code 2017, Section 422.33 (92, 8)
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INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES, §422.33
(2) The net minimum tax for a tax year is the excess, if any, of the tax determined in
subsection 4 for the tax year over the tax determined in subsection 1 for the tax year.
8. The taxes imposed under this division shall be reduced by a franchise tax credit. A
taxpayer who is a shareholder in a financial institution, as defined in section 581 of the
Internal Revenue Code, which has in effect for the tax year an election under subchapter S
of the Internal Revenue Code shall compute the amount of the tax credit by recomputing
the amount of tax under this division by reducing the taxable income of the taxpayer by the
taxpayer’s pro rata share of the items of income and expense of the financial institution.
This recomputed tax shall be subtracted from the tax computed under this division and the
resulting amount, which shall not exceed the taxpayer’s pro rata share of franchise tax paid
by the financial institution, is the amount of the franchise tax credit allowed.
9. a. The taxes imposed under this division shall be reduced by an assistive device tax
credit. A small business purchasing, renting, or modifying an assistive device or making
workplace modifications for an individual with a disability who is employed or will be
employed by the small business is eligible, subject to availability of credits, to receive this
assistive device tax credit which is equal to fifty percent of the first five thousand dollars
paid during the tax year for the purchase, rental, or modification of the assistive device
or for making the workplace modifications. Any credit in excess of the tax liability shall
be refunded with interest computed under section 422.25. In lieu of claiming a refund, a
taxpayer may elect to have the overpayment shown on the taxpayer’s final, completed return
credited to the tax liability for the following tax year. If the small business elects to take the
assistive device tax credit, the small business shall not deduct for Iowa tax purposes any
amount of the cost of an assistive device or workplace modifications which is deductible for
federal income tax purposes.
b. To receive the assistive device tax credit, the eligible small business must submit an
application to the economic development authority. If the taxpayer meets the criteria for
eligibility, the economic development authority shall issue to the taxpayer a certification
of entitlement for the assistive device tax credit. However, the combined amount of tax
credits that may be approved for a fiscal year under this subsection shall not exceed five
hundred thousand dollars. Tax credit certificates shall be issued on an earliest filed basis.
The certification shall contain the taxpayer’s name, address, tax identification number, the
amount of the credit, and tax year for which the certificate applies. The taxpayer must file
the tax credit certificate with the taxpayer’s corporate income tax return in order to claim
the tax credit. The economic development authority and department of revenue shall each
adopt rules to jointly administer this subsection and shall provide by rule for the method to
be used to determine for which fiscal year the tax credits are approved.
c. For purposes of this subsection:
(1) “Assistive device” means any item, piece of equipment, or product system which is
used to increase, maintain, or improve the functional capabilities of an individual with a
disability in the workplace or on the job. “Assistive device” does not mean any medical device,
surgical device, or organ implanted or transplanted into or attached directly to an individual.
“Assistive device” does not include any device for which a certificate of title is issued by the
state department of transportation, but does include any item, piece of equipment, or product
system otherwise meeting the definition of “assistive device” that is incorporated, attached,
or included as a modification in or to such a device issued a certificate of title.
(2) “Disability” means the same as defined in section 15.102, except that it does not include
alcoholism.
(3) “Small business” means a business that either had gross receipts for its preceding tax
year of three million dollars or less or employed not more than fourteen full-time employees
during its preceding tax year.
(4) “Workplace modifications” means physical alterations to the work environment.
10. The taxes imposed under this division shall be reduced by a historic preservation and
cultural and entertainment district tax credit allowed under chapter 404A.
11. Reserved.
11A. The taxes imposed under this division shall be reduced by an ethanol promotion
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Iowa Code 2017, Section 422.33 (92, 8)
§422.33, INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES
6
tax credit for each tax year that the taxpayer is eligible to claim the tax credit under this
subsection.
a. The taxpayer shall claim the tax credit in the same manner as provided in section
422.11N. The taxpayer may claim the tax credit according to the same requirements, for the
same amount, and calculated in the same manner, as provided for the ethanol promotion tax
credit pursuant to section 422.11N.
b. Any ethanol promotion tax credit which is in excess of the taxpayer’s tax liability shall
be refunded or may be shown on the taxpayer’s final, completed return credited to the tax
liability for the following tax year in the same manner as provided in section 422.11N.
c. This subsection is repealed on January 1, 2021.
11B. The taxes imposed under this division shall be reduced by an E-85 gasoline
promotion tax credit for each tax year that the taxpayer is eligible to claim the tax credit
under this subsection.
a. The taxpayer shall claim the tax credit in the same manner as provided in section
422.11O. The taxpayer may claim the tax credit according to the same requirements, for the
same amount, and calculated in the same manner, as provided for the E-85 gasoline promotion
tax credit pursuant to section 422.11O.
b. Any E-85 gasoline promotion tax credit which is in excess of the taxpayer’s tax liability
shall be refunded or may be shown on the taxpayer’s final, completed return credited to the
tax liability for the following tax year in the same manner as provided in section 422.11O.
c. This subsection is repealed on January 1, 2025.
11C. The taxes imposed under this division shall be reduced by a biodiesel blended fuel
tax credit for each tax year that the taxpayer is eligible to claim the tax credit under this
subsection.
a. The taxpayer may claim the biodiesel blended fuel tax credit according to the same
requirements, for the same amount, and calculated in the same manner, as provided for the
biodiesel blended fuel tax credit pursuant to section 422.11P.
b. Any biodiesel blended fuel tax credit which is in excess of the taxpayer’s tax liability
shall be refunded or may be shown on the taxpayer’s final, completed return credited to the
tax liability for the following tax year in the same manner as provided in section 422.11P.
c. This subsection is repealed on January 1, 2025.
11D. The taxes imposed under this division shall be reduced by an E-15 plus gasoline
promotion tax credit for each tax year that the taxpayer is eligible to claim the tax credit
under this subsection.
a. The taxpayer shall claim the tax credit in the same manner as provided in section
422.11Y. The taxpayer may claim the tax credit according to the same requirements, for
the same amount, and calculated in the same manner, as provided for the E-15 plus gasoline
promotion tax credit pursuant to section 422.11Y.
b. Any E-15 plus gasoline promotion tax credit which is in excess of the taxpayer’s
tax liability shall be refunded or may be shown on the taxpayer’s final, completed return
credited to the tax liability for the following tax year in the same manner as provided in
section 422.11Y.
c. This subsection is repealed on January 1, 2025.
12. a. The taxes imposed under this division shall be reduced by an investment tax credit
authorized pursuant to section 15E.43 for an investment in a qualifying business.
b. The taxes imposed under this division shall be reduced by investment tax credits
authorized pursuant to section 15.333 and section 15E.193B, subsection 6, Code 2014.
13. The taxes imposed under this division shall be reduced by an innovation fund
investment tax credit allowed under section 15E.52.
14. The taxes imposed under this division shall be reduced by an endow Iowa tax credit
authorized pursuant to section 15E.305.
15. The taxes imposed under this division shall be reduced by a workforce housing
investment tax credit allowed under section 15.355, subsection 3.
16. The taxes imposed under this division shall be reduced by tax credits for wind energy
production allowed under chapter 476B and for renewable energy allowed under chapter
476C.
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Iowa Code 2017, Section 422.33 (92, 8)
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INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES, §422.33
17. Reserved.
18. Reserved.
19. The taxes imposed under this division shall be reduced by a corporate tax credit
authorized pursuant to section 15.331C for certain sales taxes paid by a third-party developer.
20. The taxes imposed under this division shall be reduced by a tax credit authorized
pursuant to section 15E.66, if redeemed, for investments in the Iowa fund of funds.
21. The taxes imposed under this division shall be reduced by the following:
a. An agricultural assets transfer tax credit as allowed under section 16.80.
b. A custom farming contract tax credit as allowed under section 16.81.
22. The taxes imposed under this division shall be reduced by a renewable chemical
production tax credit allowed under section 15.319. This subsection is repealed January 1,
2033.
23. Reserved.
24. Reserved.
25. a. The taxes imposed under this division shall be reduced by a charitable conservation
contribution tax credit equal to fifty percent of the fair market value of a qualified real
property interest located in the state that is conveyed as an unconditional charitable donation
in perpetuity by the taxpayer to a qualified organization exclusively for conservation
purposes. The maximum amount of tax credit is one hundred thousand dollars. The amount
of the contribution for which the tax credit is claimed shall not be deductible in determining
taxable income for state tax purposes.
b. For purposes of this section, “conservation purpose”, “qualified organization”, and
“qualified real property interest” mean the same as defined for the qualified conservation
contribution under section 170(h) of the Internal Revenue Code, except that a conveyance of
land for open space for the purpose of fulfilling density requirements to obtain subdivision
or building permits shall not be considered a conveyance for a conservation purpose.
c. Any credit in excess of the tax liability is not refundable but the excess for the tax
year may be credited to the tax liability for the following twenty tax years or until depleted,
whichever is the earlier.
26. The taxes imposed under this division shall be reduced by a redevelopment tax credit
allowed under chapter 15, subchapter II, part 9.
27. Reserved.
28. The taxes imposed under this division shall be reduced by a school tuition organization
tax credit allowed under section 422.11S. The maximum amount of tax credits that may be
approved under this subsection for a tax year equals twenty-five percent of the school tuition
organization’s tax credits that may be approved pursuant to section 422.11S, subsection 8,
for a tax year.
29. a. The taxes imposed under this division shall be reduced by a solar energy system
tax credit equal to sixty percent of the federal energy credit related to solar energy systems
provided in section 48(a)(2)(A)(i)(II) and section 48(a)(2)(A)(i)(III) of the Internal Revenue
Code, not to exceed twenty thousand dollars. For installations occurring on or after January
1, 2016, the applicable percentage of the federal energy credit related to solar energy systems
shall be fifty percent.
b. The taxpayer may claim the credit pursuant to this subsection according to the same
requirements, conditions, and limitations as provided pursuant to section 422.11L.
30. The taxes imposed under this division shall be reduced by a from farm to food donation
tax credit as allowed under chapter 190B.
[C35, §6943-f29; C39, §6943.065; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §422.33; 81
Acts, ch 135, §1 – 3; 82 Acts, ch 1023, §12, 13, 30, 31, ch 1234, §1]
83 Acts, ch 179, §14, 15, 22, 25; 83 Acts, ch 207, §90, 93; 85 Acts, ch 32, §81; 85 Acts, ch
230, §7; 86 Acts, ch 1007, §28; 86 Acts, ch 1194, §1; 86 Acts, ch 1236, §8; 86 Acts, ch 1241,
§22; 87 Acts, ch 22, §11; 87 Acts, 1st Ex, ch 1, §6, 7; 88 Acts, ch 1028, §33; 88 Acts, ch 1099,
§1; 89 Acts, ch 251, §20 – 22; 89 Acts, ch 285, §5; 90 Acts, ch 1171, §5; 90 Acts, ch 1196, §2;
91 Acts, ch 215, §5; 92 Acts, ch 1200, §1, 4; 93 Acts, ch 113, §3; 94 Acts, ch 1165, §19; 94 Acts,
ch 1166, §8, 11; 95 Acts, ch 83, §4, 35; 95 Acts, ch 152, §5, 7; 97 Acts, ch 135, §7, 9; 98 Acts,
ch 1078, §7, 10; 99 Acts, ch 95, §8, 9, 12, 13; 99 Acts, ch 151, §10, 11, 89; 2000 Acts, ch 1146,
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Iowa Code 2017, Section 422.33 (92, 8)
§422.33, INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES
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§8, 9, 11; 2000 Acts, ch 1194, §12 – 14, 21; 2001 Acts, ch 123, §3, 6; 2001 Acts, ch 127, §8 –
10; 2002 Acts, ch 1006, §8, 13; 2002 Acts, ch 1069, §9, 10, 14; 2002 Acts, ch 1156, §3, 8; 2003
Acts, ch 139, §9, 11, 12; 2003 Acts, ch 145, §286; 2003 Acts, 1st Ex, ch 1, §113, 133; 2003 Acts,
1st Ex, ch 2, §85, 89
[2003 Acts, 1st Ex, ch 1, §113, 133 amendment adding new subsection 15 stricken pursuant
to Rants v. Vilsack, 684 N.W.2d 193]
2004 Acts, ch 1073, §18; 2004 Acts, ch 1175, §405, 418; 2005 Acts, ch 24, §8, 10, 11; 2005
Acts, ch 146, §2, 3; 2005 Acts, ch 150, §14, 62, 69; 2005 Acts, ch 160, §2, 14; 2006 Acts, ch
1136, §2; 2006 Acts, ch 1140, §7, 10, 11; 2006 Acts, ch 1142, §42 – 49; 2006 Acts, ch 1158, §29
– 33; 2006 Acts, ch 1159, §26; 2006 Acts, ch 1161, §4, 7; 2006 Acts, ch 1175, §16, 17, 23; 2007
Acts, ch 12, §6 – 8; 2007 Acts, ch 162, §7, 13; 2007 Acts, ch 165, §5, 9; 2008 Acts, ch 1004, §2,
7; 2008 Acts, ch 1011, §7, 9; 2008 Acts, ch 1169, §33 – 35; 2008 Acts, ch 1173, §9; 2008 Acts,
ch 1191, §63, 107, 137, 163, 168; 2009 Acts, ch 41, §125; 2009 Acts, ch 100, §34, 35; 2009 Acts,
ch 177, §44; 2009 Acts, ch 179, §133, 153, 234; 2010 Acts, ch 1061, §84, 182; 2010 Acts, ch
1138, §12, 16, 22, 26; 2011 Acts, ch 34, §98; 2011 Acts, ch 41, §13, 14, 16; 2011 Acts, ch 113,
§19, 22, 23, 29, 33, 34, 36, 39, 40; 2011 Acts, ch 118, §85, 89; 2011 Acts, ch 130, §42, 47; 2012
Acts, ch 1007, §6 – 8; 2012 Acts, ch 1110, §10, 11; 2012 Acts, ch 1121, §8, 10, 11; 2012 Acts,
ch 1136, §34, 39 – 41; 2013 Acts, ch 1, §6 – 8; 2013 Acts, ch 30, §89; 2013 Acts, ch 125, §21,
23, 24; 2013 Acts, ch 140, §146, 147; 2014 Acts, ch 1026, §87; 2014 Acts, ch 1076, §5 – 7; 2014
Acts, ch 1080, §87, 88, 98; 2014 Acts, ch 1092, §90; 2014 Acts, ch 1118, §9, 12; 2014 Acts, ch
1130, §20, 24 – 26, 38; 2014 Acts, ch 1141, §21, 76, 79, 80; 2015 Acts, ch 1, §6 – 8; 2015 Acts, ch
30, §118; 2015 Acts, ch 86, §1 – 3; 2015 Acts, ch 124, §3, 9; 2015 Acts, ch 138, §121, 126, 127;
2016 Acts, ch 1065, §13, 15, 16; 2016 Acts, ch 1095, §6, 14, 15; 2016 Acts, ch 1106, §2, 5, 9
Referred to in §2.48, §15.119, §15.335, §16.80, §16.81, §29C.24, §422.8, §422.21, §422.34A, §422.35, §422.36, §422.37, §422.85, §441.21,
§476C.2
Internal Revenue Code definition is updated regularly; for applicable definition in a prior tax year, refer to Iowa Acts and Code for that
year
For future amendment striking subsection 21, paragraph b, effective January 1, 2018, see 2014 Acts, ch 1080, §119, 125
For provisions relating to requirements for claiming an ethanol promotion tax credit under subsection 11A in calendar year 2020 for a
retail dealer whose tax year ends prior to December 31, 2020, see 2006 Acts, ch 1142, §49; 2006 Acts, ch 1175, §17; 2011 Acts, ch 113, §11,
13, 14
For provisions relating to requirements for claiming an E-85 gasoline promotion tax credit under subsection 11B in calendar year 2024
for a retail dealer whose tax year ends prior to December 31, 2024, see 2006 Acts, ch 1142, §49; 2011 Acts, ch 113, §20, 22, 23; 2016 Acts,
ch 1106, §6
For provisions relating to requirements for claiming a biodiesel blended fuel tax credit under subsection 11C in calendar year 2024, for
a retail dealer whose tax year ends prior to December 31, 2024, see 2006 Acts, ch 1142, §49; 2011 Acts, ch 113, §31, 33, 34; 2016 Acts, ch
1106, §10
For provisions relating to requirements for claiming an E-15 plus gasoline promotion tax credit under subsection 11D in calendar year
2024 for a retail dealer whose tax year ends prior to December 31, 2024, see 2011 Acts, ch 113, §37, 39, 40; 2016 Acts, ch 1106, §3
2011 amendment to subsection 11B takes effect January 1, 2012, and applies to tax years beginning on and after that date; 2011 Acts,
ch 113, §22, 23
2011 amendment to subsection 11C takes effect January 1, 2012, and applies to tax years beginning on and after that date; 2011 Acts,
ch 113, §33, 34
Subsection 11D takes effect July 1, 2011, and applies to tax years beginning on and after January 1, 2012, and to that part of a retail
dealer’s tax year or tax years occurring during that portion of the calendar year beginning on and after July 1, 2011, and ending on December
31, 2011; 2011 Acts, ch 113, §39, 40
2012 strike of subsections 23 and 24 takes effect May 25, 2012, and applies retroactively to January 1, 2012, for tax years beginning on
or after that date, and does not apply to contracts or agreements entered into on or before May 25, 2012; 2012 Acts, ch 1136, §39 – 41
Subsection 29 takes effect May 25, 2012, and applies retroactively to tax years beginning on or after January 1, 2012; 2012 Acts, ch 1121,
§10, 11
2013 amendment to subsection 21 takes effect June 17, 2013, and applies retroactively to January 1, 2013, for tax years beginning on or
after that date; 2013 Acts, ch 125, §23, 24
Subsection 30 takes effect July 1, 2013, and applies to tax years beginning on or after January 1, 2014; 2013 Acts, ch 140, §147
2014 amendment to subsection 10 applies to agreements entered into an eligible taxpayer on or after July 1, 2014; 2014 Acts, ch 1118,
§12
Subsection 15 takes effect May 30, 2014; applies retroactively to January 1, 2014, for tax years beginning on or after that date; and
applies to qualifying new investment costs incurred on or after May 30, 2014; 2014 Acts, ch 1130, §24 – 26
2014 amendment to subsection 29, paragraph a, applies retroactively to January 1, 2014, for tax years beginning on or after that date;
2014 Acts, ch 1141, §79, 80
2015 amendments to subsection 2, paragraph a, apply retroactively to January 1, 2015, for tax years beginning on or after that date;
2015 Acts, ch 86, §3
2015 amendment to subsection 12, paragraph a, takes effect July 2, 2015, and applies to equity investments in a qualifying business
made on or after that date; 2015 Acts, ch 138, §126, 127
Subsection 2, paragraph a, subparagraph (2), subparagraph division (f), takes effect April 21, 2016, and applies retroactively to January
1, 2016, for tax years beginning on or after that date; 2016 Acts, ch 1095, §14, 15
Subsection 22 takes effect April 6, 2016, and applies to renewable chemicals produced in the state from biomass feedstock on or after
January 1, 2017; 2016 Acts, ch 1065, §15, 16
For restrictions on the issuance and claiming of renewable chemical production tax credits under §15.319, see 2016 Acts, ch 1065, §14
For provisions relating to the definition of Internal Revenue Code for the period beginning January 1, 2015, and ending December 31,
2015, and for tax years beginning during the 2015 calendar year, see 2016 Acts, ch 1007, §1, 4, 5
Subsection 2, paragraph a, subparagraph (2), NEW subparagraph division (f) and former subparagraph divisions (f) and (g) redesignated
as (g) and (h)
Wed Feb 08 03:44:55 2017
Iowa Code 2017, Section 422.33 (92, 8)
9
INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES, §422.33
Subsection 11B, paragraph c amended
Subsection 11C, paragraph c amended
Subsection 11D, paragraph c amended
NEW subsection 22
Wed Feb 08 03:44:55 2017
Iowa Code 2017, Section 422.33 (92, 8)
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