2024 Iowa Code
Title X - FINANCIAL RESOURCES
Chapter 422 - INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES
Section 422.5A - Tax rates.
422.5A Tax rates.
1. a. The tax imposed in section 422.5 shall be calculated using the following rates in the following tax years in the case of married persons filing jointly:
(1) For the tax year beginning on or after January 1, 2023, but before January 1, 2024:
(a) On taxable income from 0 through $12,000, the rate of 4.40 percent.
(b) On taxable income exceeding $12,000 but not exceeding $60,000, the rate of 4.82 percent.
(c) On taxable income exceeding $60,000 but not exceeding $150,000, the rate of 5.70 percent.
(d) On taxable income exceeding $150,000, the rate of 6.00 percent.
(2) For the tax year beginning on or after January 1, 2024, but before January 1, 2025:
(a) On taxable income from 0 through $12,000, the rate of 4.40 percent.
(b) On taxable income exceeding $12,000 but not exceeding $60,000, the rate of 4.82 percent.
(c) On taxable income exceeding $60,000, the rate of 5.70 percent.
(3) For the tax year beginning on or after January 1, 2025, but before January 1, 2026:
(a) On taxable income from 0 through $12,000, the rate of 4.40 percent.
(b) On taxable income exceeding $12,000, the rate of 4.82 percent.
b. The tax imposed in section 422.5 shall be calculated using the following rates in the following tax years in the case of any other taxpayer other than married persons filing jointly:
(1) For the tax year beginning on or after January 1, 2023, but before January 1, 2024:
(a) On taxable income from 0 through $6,000, the rate of 4.40 percent.
(b) On taxable income exceeding $6,000 but not exceeding $30,000, the rate of 4.82 percent.
(c) On taxable income exceeding $30,000 but not exceeding $75,000, the rate of 5.70 percent.
(d) On taxable income exceeding $75,000, the rate of 6.00 percent.
(2) For the tax year beginning on or after January 1, 2024, but before January 1, 2025:
(a) On taxable income from 0 through $6,000, the rate of 4.40 percent.
(b) On taxable income exceeding $6,000 but not exceeding $30,000, the rate of 4.82 percent.
(c) On taxable income exceeding $30,000, the rate of 5.70 percent.
(3) For the tax year beginning on or after January 1, 2025, but before January 1, 2026:
(a) On taxable income from 0 through $6,000, the rate of 4.40 percent.
(b) On taxable income exceeding $6,000, the rate of 4.82 percent.
2. This section is repealed January 1, 2026.
2018 Acts, ch 1161, §73, 97, 98; 2022 Acts, ch 1002, §15, 17, 18
Referred to in §421.27, 422.5, 422.16, 422.16B, 422.16C, 422.25A
2022 amendment effective January 1, 2023, and applies to tax years beginning on or after January 1, 2023; 2022 Acts, ch 1002, §17, 18
