Iowa House Speaker Linda Upmeyer of Clear Lake invited a group of Iowans to the statehouse to talk about the financial hit they will face if state tax policy isn’t changed.
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If the State of Iowa fails to align with federal tax adjustments made in December, Iowa small business owners, teachers and others will have to pay an estimated 95 million dollars more when they file their state income taxes. Laura Cunningham of Nora Springs says her family invested in an energy-efficient grain dryer in 2015 to replace one that was destroyed in a fire….
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Iowa farmers have to file their taxes by March 1st, while the rest of Iowa taxpayers have until April 30th to file their 2015 taxes. There are other federal tax changes that are not currently available at the state level, including a 250-dollar credit for teachers to cover the cost of some of their classroom supplies. Republican Governor Terry Branstad said earlier this year the state couldn’t afford to extend all these tax adjustments, but Upmeyer says she talked with Branstad, and he’s willing now to go along with these tax changes.