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2017 Iowa Code
Title X - FINANCIAL RESOURCES
Chapter 422 - INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES
Section 422.63 - Amount of tax.

Universal Citation: IA Code § 422.63 (2017)
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1 INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES, §422.63 422.63 Amount of tax. The franchise tax is imposed annually in an amount equal to five percent of the net income received or accrued during the taxable year. If the net income of the financial institution is derived from its business carried on entirely within the state, the tax shall be imposed on the entire net income, but if the business is carried on partly within and partly without the state, the portion of net income reasonably attributable to the business within the state shall be specifically allocated or equitably apportioned within and without the state under rules of the director. [C71, 73, 75, 77, 79, 81, §422.63] 86 Acts, ch 1194, §2 Referred to in §422.60 Wed Feb 08 03:44:59 2017 Iowa Code 2017, Section 422.63 (11, 0)
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