IMPACT OF NEW FED TAX LAW ON STATE TAXES

Because Iowan’s get a state income tax deduction for their federal taxes, it could mean a lot of money for the state.  Without the deduction, individuals may see their Iowa State Taxes go up.  As the 2018 state legislature begins, Republican who control the debate agenda say they plan to return any “windfall” the state may get from the tax changes back to Iowans.