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Slide 1: Iowa Status on Federal Extenders for Tax Year 2008 April 7, 2009 We continue to receive inquiries about whether Iowa will adopt the federal provisions for what are commonly referred to as the federal “extenders.” As we stated previously, this is a decision that is made by the Iowa Legislature. To date, the Legislature has not taken action to couple with the 2008 federal law provisions for extenders. The federal extender provisions include: • Educator Expenses (Line 24; IA 1040) • Tuition and Fees (Line 24; IA 1040) • Itemized Deduction for State Sales / Use Tax Paid (Line 4; IA Schedule A) Iowa income tax returns must be filed based upon current Iowa law that is not coupled with federal law. Therefore, the extenders should not be included on Iowa returns. Taxpayers who have already filed Iowa returns and claimed one or more of the extenders should file an Iowa amended return to exclude any items originally claimed that would not qualify under current Iowa law. The Department made an assumption when printing the 2008 income tax booklet that Iowa would follow the federal treatment; therefore, the information in that booklet is contrary to this updated position. Instructions / forms begin on the next page. How long do you want to wait for your refund ? Processing paper returns is a manually intensive job; consequently, paper filers wait weeks to receive their refunds. eFilers, on the other hand, receive theirs in days. When you eFile, you get: • a faster refund • simplified filing • built-in calculator • proofreader, and • a confirmation notice More than 1 million taxpayers filed their Iowa returns electronically last year. The Department processes more than 1.5 million individual income tax returns. Almost 64 percent of Iowa taxpayers receive refunds. To eFile, go to www.state.ia.us/tax and check out the online options.
Slide 3: 2008 Iowa Income Tax Information 2008 Additional Expanded Instructions are available online at www.state.ia.us/tax. Due date Iowa income tax returns are due April 30, 2009. Farmers and commercial fishers If at least 2/3 of your income is from farming or commercial fishing, you may avoid penalty for underpayment of estimated tax in one of the following ways: (1) Pay the estimated tax in one payment on or before January 15, 2009, and file the Iowa income tax return by April 30, 2009, or (2) file the Iowa income tax return and pay the tax due in full on or before March 2, 2009. Who must file? You must file an Iowa return if you were a resident or part-year resident of Iowa in 2008 and meet any of the following requirements. Nonresidents, see items f. and g. NOTE: In meeting the filing requirements below, both incomes of husband and wife must be included, and any pension/retirement income exclusion (line 21 of the IA 1040) and any Social Security phase-out amount from line 12 of the Social Security worksheet (page 2) must be added back. a. You had a net income (line 26 of the IA 1040) of more than $9,000 and your filing status is single. ($18,000 if 65 or older on 12/31/08) b. You had a net income (line 26 of the IA 1040) of more than $13,500 and your filing status is other than single. ($24,000 if your or your spouse is 65 or older on 12/31/08) c. You were claimed as a dependent on another person’s Iowa return and had a net income (line 26 of the IA 1040) of $5,000 or more. d. You were in the military service with Iowa shown as your legal residence even though stationed outside of Iowa. e. You were subject to Iowa lump-sum tax. f. You were a nonresident or part-year resident and your net income from Iowa sources (line 26 of the IA 126) was $1,000 or more, unless below the income thresholds above. g. You were a nonresident or part-year resident and subject to Iowa lump-sum tax or Iowa minimum tax (even if line 26 of IA 126 is less than $1,000). Nonresidents and part-year residents complete and file Illinois form IL-W-5-NR “Employee’s Statement of Nonresidence in Illinois” with the employer so that the employer will withhold Iowa income tax. An Illinois resident working for wages or salary in Iowa should complete and file the IA 44-016 “Employee’s Statement of Nonresidence in Iowa” with the employer so that the employer will withhold Illinois income tax. Iowa will tax any Iowa-source income received by an Illinois resident that is not from wages or salaries. Illinois will tax any Illinois-source income received by an Iowa resident that is not from wages or salaries. Examples: gambling winnings and unemployment compensation. If Illinois income tax has been mistakenly withheld from the wages or salary of an Iowa resident, the Iowa resident must file an Illinois income tax return to get a refund. Illinois residents who have had Iowa income tax withheld in error from their wages and have no other Iowa-source income must file an Iowa income tax return requesting a refund. They should complete Steps 1, 2, and 3 of the IA 1040, show “0” on line 1 of Step 4 and line 26 of Step 5, write “Illinois resident tax withheld in error” on the face of the return. On the back of the IA 1040 on lines 60, 67, 68, 69 and 70, enter the Iowa tax withheld, sign the return and attach copies of W-2s to the front of the return. Copies of federal and Illinois returns must be attached. Extension requests Iowa does not have an extension form to obtain additional time to file. To avoid the late-filing penalty, at least 90% of your total tax liability must be paid by April 30, 2009; you will automatically have until November 2, 2009, to file your return. You may, however, owe a 2210 penalty for failure to make estimate payments. You will owe interest on any tax due after April 30, 2009. If you need to make a tax payment to meet the 90% requirement, see payment options on the back cover of this booklet. Military income Information is available on the Department’s Web site in the 2008 Expanded Instructions. Injured spouse If you are a nonresident or a part-year resident with income from Iowa sources, you must complete both the IA 1040 and the IA 126. See instructions, page 8. Iowa and Illinois reciprocal agreement Any wages or salary made by an Iowa resident working in Illinois is taxable only to Iowa and not to Illinois. Any wages or salary made by an Illinois resident working in Iowa is taxable only to Illinois and not to Iowa. An Iowa resident working for wages or salary in Illinois should Health care coverage: See top right box of page 1 of form. Line 14: Iowa coupled with IRS Section 179; decoupled with bonus depreciation. Line 27: Do not include federal economic stimulus payment received in 2008. Line 40: Iowa charitable mileage formula now uses 39 cents. Line 58 Checkoffs: New - Child Abuse Prevention; Combined - Veterans Trust Fund and Volunteer Firefighters Lines 53 and 66: Form IA 148 Tax Credits Schedule must be completed. The complete lists of these credits, including new or The federal “injured spouse” form is not recognized by the State of Iowa when using filing status 2 or filing status 3. If your spouse’s refund will be used to pay a federal, state, county or city debt, we suggest each spouse file an IA 1040 long form, filing status 4. This will prevent your refund from being applied to your spouse’s debt. Federal return Including a copy of your federal return with your Iowa return may help processing your Iowa return. This is not necessary if you file electronically. modified ones for 2008, are online in the 2008 Expanded Instructions. REMINDERS Line 24: Deductions for educator expenses and tuition and fees may be taken. Iowa Schedule A: The itemized deduction for state sales and use tax paid is allowed only if the taxpayer claimed it on the federal return. Federal Line References contained in these instructions are based on the draft federal forms available at the time of printing. Expanded Instructions are at www.state.ia.us/tax NEW FOR 2008 41-002a (10/17/08)
Slide 4: 2008 IA1040 INSTRUCTIONS STEP 1 NAME / ADDRESS / SOCIAL SECURITY NUMBER NAME AND ADDRESS: Use the preprinted label if you have one. If the name or mailing address is incorrect, make the corrections directly on the label. If you did not receive a label, enter your information on the form. IF YOU OR YOUR SPOUSE IS 65 OR OLDER on 12/31/08: Check the box. ENTER YOUR / SPOUSE’S SOCIAL SECURITY NUMBER. HEALTH CARE COVERAGE: Indicate the number of dependent children claimed in Step 3 who do and do not have health care coverage. COUNTY: See the list beginning on page 16. If the number on the label is not correct, make the correction directly on the label. Enter the number of the county in which you lived on December 31, 2008. Nonresidents and part-year residents who moved out of Iowa before December 31, 2008: Enter “00.” Part-year residents who moved into Iowa: Enter the number of the Iowa county in which you lived on December 31, 2008. Military personnel: Enter the county number of your Iowa residence, even if you were not physically present in Iowa on the last day of the tax year. SCHOOL DISTRICT NUMBER: See the list beginning on page 16. Select the district in which you lived on December 31, 2008. This is not necessarily the district where your children attended school. If the number on the label is not correct, make the correction directly on the label. Nonresidents: If you did not live in Iowa at all during 2008, enter “0000.” Part-year residents who moved into Iowa: Enter the Iowa school district in which you lived on the last day of 2008. If you moved out of Iowa before December 31, 2008, enter “9999.” Military personnel: Enter the school district number of your Iowa residence, even if you were not physically present in Iowa on the last day of the tax year. STEP 2 FILING STATUS Married Taxpayers may reduce their tax liability by using filing status 3 or 4. STATUS 1. Use if you were unmarried, divorced, or legally separated on December 31, 2008, and you do not meet the requirements for any other filing status. STATUS 2. (a) You were husband and wife on December 31, 2008, or (b) Your spouse died during 2008 and you did not remarry during the year. If your spouse died during 2008 and had income, you can also file status 3 or 4. STATUS 3. If you are married and want to file separately on one form. STATUS 4. If you and your spouse file separately on two separate forms. STATUS 5. If you are filing as head of household for federal income tax purposes. STATUS 6. If you meet the requirements for qualifying widow(er) for federal income tax purposes. STEP 3 EXEMPTIONS Dependents filing their own returns should claim a $40 personal exemption credit even though they are claimed as a dependent on another person’s Iowa return. STEP 4 GROSS INCOME If you use filing status 3 (married filing separately on combined return), complete both columns A and B of the IA 1040. All other filing statuses need to complete only column A. ALL taxpayers, including nonresidents and part-year residents, report income from ALL SOURCES in this section. Nonresidents and part-year residents also report Iowa-source income on Schedule IA 126, where a CREDIT is calculated. LINE 1. Wages, Salaries, Tips, Etc. Report the same W-2 income as University of IA Bonds, IA Code sec. 263A.6; Soil Conservation Districts Revenue Bonds, IA Code sec. 161A.22; Quad Cities shown on your federal income tax return, including military income. Interstate Metropolitan Authority Bonds, IA Code chapter 28A.24; See online Expanded Instructions, line 24 for allowable military Sewage Treatment Works Revenue Bonds, IA Code sec. 16.131(6); adjustments. Underground Storage Tank Fund Revenue Bonds, IA Code sec. MARRIED SEPARATE FILERS: W-2 income is reported by the spouse 455G.6(14); Vision IA Program, IA Code sec. 12.71; Warehouse earning the income. Project Revenue Bonds, IA Code chapter 123.159; IA Utilities Board LINE 2. Taxable Interest Income. Include the same amounts of interest and Consumer Advocate Building Bonds, IA Code sec. 422.7(45); income reported on your federal return with the following modifications: Honey Creek Premier Destination Park Bonds, IA Code sec. a. Add interest from state and municipal securities unless specifically 463C.12(8). exempt from Iowa tax. The following securities are exempt: Aviation b. Deduct interest received from federal securities (for example, U.S. Authority Bonds, IA Code sec. 330A.16; Beginning Farmer Loan Savings Bonds, U.S. Treasury Notes). Do not subtract interest from Program Bonds, IA Code sec. 175.17; Community College Bond repurchase agreements of U.S. Government securities. The following Program Bonds, IA Code sec. 260C.71(6); Community College are taxable: Government National Mortgage Assoc. (Ginnie Mae) Residence Halls and Dormitories Bonds, IA Code sec. 260C.61; Securities; Federal National Mortgage Assoc. (Fannie Mae) County Health Center Bonds, IA Code sec. 331.441(2)C(7); E911 Securities; Federal Home Loan Mortgage Assoc. (Freddie Mac) Emergency Telephone Service Program Bonds, IA Code sec. Securities; Money Market Certificates. 34A.20(6); Interstate Bridges Bonds, IA Code sec. 313A.36; IA MARRIED SEPARATE FILERS: Divide interest income based on Board of Regents Bonds for buildings and facilities, IA Code ownership of the account or certificate. chapters 262.41, 262.51 and 262.60; IA College Super Savings Plan 1. Jointly held: divide equally between spouses. Bonds, IA Code chapter 262A; IA Higher Education Loan Authority, 2. Held in the name of only one spouse: allocate interest wholly to IA Code sec. 261A.27; IA Municipality Urban Renewal Bonds, IA that spouse. Code sec. 403.9(2); IA Rural Water District Revenue Bonds and LINE 3. Ordinary Dividend Income. Report the same dividends as Notes, IA Code sec. 357A.15; Local Government Flood Damage you reported on your federal return with the following modifications: Program, IA Code sec. 16.183(4); Low Income Housing Bonds, IA a. Add all dividends from mutual funds, investment trusts, or regulated Code sec. 403A.12; Municipal Investment Recovery Bonds, IA Code sec. 16.173(4); Prison Infrastructure Revenue Bonds, IA Code sec. investment companies investing in state and municipal bonds. 16.177(8); Regents Institutions Medical and Hospital Buildings at b. Deduct that portion of any net dividends from a mutual fund, 1 41-002b (9/30/08)
Slide 5: investment trust, or regulated investment company that is attributable to federal securities. MARRIED SEPARATE FILERS: Divide dividends based on registered ownership of stock. 1. Jointly held: divide equally between spouses. 2. Held in the name of only one spouse: allocate dividends wholly to that spouse. LINE 4. Alimony Received. Include the same alimony as is shown on your federal return. MARRIED SEPARATE FILERS: Reported by the spouse who received the alimony. LINE 5. Business Income/Loss. Report the net business income or loss from federal Schedule C or C-EZ. Attach a copy of the federal form. MARRIED SEPARATE FILERS: Reported by the spouse deriving the income or loss. LINE 6. Capital Gain/Loss. Enter 100% of any capital gain or loss as reported on line 13 of your federal 1040. Do not subtract any Iowa capital gain deduction on this line. See line 23. Attach a copy of your federal Schedule D. MARRIED SEPARATE FILERS: Taxpayers who filed separate federal returns should report capital gains or losses as reported for federal tax purposes. If a joint federal return was filed, each spouse must report capital gains on the basis of ownership of the property sold or exchanged. The combined net capital gain or loss must be the same as reported on the joint federal return. LINE 7. Other Gains/Losses. If you sold or exchanged assets used in a trade or business and completed federal form 4797, enter 100% of the gain or loss. Attach a copy of federal form 4797. MARRIED SEPARATE FILERS: Divide gains or losses based on ownership of the asset sold or exchanged. LINE 8. Taxable IRA Distributions. Enter the amount of taxable IRA distributions as shown on your federal return. MARRIED SEPARATE FILERS: Taxable IRA distributions should be reported by the spouse whose name is on the account. LINE 9. Taxable Pensions and Annuities. The same amounts of pensions and annuities are taxable for Iowa as are taxable on your federal return, except Railroad Retirement benefits paid by the Railroad Retirement Board. These are not taxable on the Iowa return. Do not subtract any Iowa pension exclusion on this line. See line 21. MARRIED SEPARATE FILERS: The taxable portion of pensions and annuities is reported by the spouse who received the income. LINE 10. Rents, Royalties, Partnerships, Estates, Etc. Report the income or loss from federal Schedule E and attach a copy. MARRIED SEPARATE FILERS: Divide income or loss from Schedule E based upon ownership of the asset-producing income or partnership interest or individual named as beneficiary. LINE 11. Farm Income/Loss. Enter the income or loss from federal Schedule F. Attach a copy to your Iowa return. MARRIED SEPARATE FILERS: Farm income must be reported by the spouse who claims it for self-employment tax purposes on the federal Schedule SE. LINE 12. Unemployment Compensation. Enter the amount of unemployment compensation benefits that was taxable on your federal return, except for unemployment compensation and sickness insurance benefits paid by the Railroad Retirement Board. MARRIED SEPARATE FILERS: If both spouses received unemployment benefits, each of the spouses should report the benefits received as shown on the 1099-G for each spouse. LINE 13. Taxable Social Security Benefits. Iowa does not tax Social Security benefits in the same manner as the Internal Revenue Service. Iowa is implementing a gradual phase-out of the tax on Social Security income. For tax year 2008, the phase-out percentage is 32%. To compute the amount of Social Security benefits that are taxable to Iowa, complete the worksheet below. Line 13 Social Security Worksheet 1. Enter the amount from Box 5 of form(s) SSA-1099. If you filed a joint federal return, enter the totals for both spouses. Do not include Railroad Retirement benefits from form RRB-1099 here. ................................. 1. _________________ 2. Enter one-half of line 1 amount. ........................................................................................................................................ 2. _________________ 3. Add amounts from the federal 1040 on lines 7, 8a, 9a, 10 through 14, 15b, 16b, 17 through 19, and 21, plus one-half of any Railroad Retirement Social Security benefits from RRB-1099.* If filing federal 1040A, use lines 7, 8a, 9a, 10, 11b, 12b and 13, plus one-half of any Railroad Retirement Social Security benefits from RRB-1099. Include any bonus depreciation adjustment from line 14 of the Iowa 1040 to compute correct amount. ........................ 3. _________________ 4. Enter the amount from line 8b of your federal 1040 or 1040A. ........................................................................................ 4. _________________ 5. Add lines 2, 3, and 4. ......................................................................................................................................................... 5. _________________ 6. Enter total adjustments from federal 1040, lines 23 through 32, plus any write-in adjustments you entered on the dotted line next to line 36. If filing federal 1040A, use the total of lines 16 and 17. ............................... 6. _________________ 7. Subtract line 6 from line 5. ................................................................................................................................................. 7. _________________ 8. Enter one of the following amounts based on the federal filing status used on form 1040 or 1040A. ............................. 8. _________________ Single, head of household, qualifying widow(er): enter $25,000. — Married filing joint: enter $32,000. — Married filing separate: enter -0- if you lived with your spouse at anytime in 2008 or $25,000 if you did not live with your spouse at any time in 2008. 9. Subtract line 8 from line 7. If zero or less, enter -0-. If line 9 is zero, none of the Social Security benefits are taxable. 9. _________________ 10. Enter one-half of line 9. ................................................................................................................................................... 10. _________________ 11. Iowa Taxable Social Security Benefits before Phase-out: Enter the smaller of line 2 or line 10. ................................... 11. _________________ 12. Iowa Taxable Social Security Phase-out: Multiply line 11 by 32% (.32). ....................................................................... 12. _________________ 13. Iowa Taxable Social Security after Phase-out (Reduced Iowa Taxable Social Security): Subtract line 12 from line 11 and enter here and on line 13 of form IA 1040. ................................................................................................... 13. _________________ *Include the following incomes or adjustments to income on line 3 if applicable. (These were excluded from federal AGI.): Foreign earned income, income excluded by residents of Puerto Rico, American Samoa and proceeds from Savings Bonds used for higher education and employer-provided adoption benefits. Although Railroad Retirement benefits are not taxable, one-half of the benefits received must be used to determine the amount of Social Security benefits that are taxable to Iowa. For purposes of determining taxable Social Security benefits, you must also include interest from federal securities. 2 41-002c (10/17/08)
Slide 6: MARRIED SEPARATE FILERS: a. If both spouses received Social Security benefits, the taxable amount is allocated between the spouses in the ratio of the benefits received by one spouse to the total benefits received. b. If only one spouse received benefits, that spouse should report the portion of the benefits that is taxable. LINE 14. Other Income, Gambling Income, Bonus Depreciation Adjustment. Enter taxable income not reported on lines 1-13. Write an explanation of the type of income. Examples of income to be reported include: a. Baby-sitting income not reported on federal Schedule C or C-EZ. b. Bonus depreciation adjustment from the IA 4562A; attach the IA 4562A to your return. c. Capital gains from installment sales in 2008: Accrual-method taxpayers may now use the installment method for reporting capital gains on their Iowa returns. d. College Savings Iowa or Iowa Advisor 529 Plan: Income received from the cancellation of a participation agreement to the extent the amount was previously deducted on line 24 of the IA 1040. e. Director’s fees f. Drilling: Intangible drilling costs that were reported on federal form 6251 less any amounts amortized in the tax year. g. Executor’s fees h. Gambling winnings: You must report the full amount of gambling winnings. Report any Iowa tax withheld on line 60 of the IA 1040. Gambling losses may be reported as an itemized deduction on Schedule A, but you cannot deduct more than the winnings you report. i. Partnership income and/or S Corporation income: Modifications that increased the income. j. Refundable Iowa credits received in 2008 which were included as income on the federal 1040 must also be added back. This includes Cow-Calf refunds received in 2008 (unless reported on federal Schedule F). k. Refunds: State income tax refunds other than Iowa to the extent that the tax refunded in 2008 was deducted on a prior Iowa return. l. Wells: Percentage depletion from an oil, gas or geothermal well that was reported on federal form 6251. m. Other income as reported on line 21 of the federal 1040. MARRIED SEPARATE FILERS: The spouse to whom the income was paid must report that income. STEP 5 ADJUSTMENTS TO INCOME All taxpayers report adjustments from all sources in this section. NONRESIDENTS AND PART-YEAR RESIDENTS also report Iowa-source adjustments to income on the Schedule IA 126. LINE 16. Payments to an IRA, KEOGH or SEP. Enter the amount claimed on your federal tax return for payments made to your IRA, Keogh Plan, SEP, SIMPLE, or Qualified Plans. Payments to a ROTH IRA are not deductible. MARRIED SEPARATE FILERS: a. If only one spouse has earned income, that individual can contribute up to $5,000 per year ($6,000 if 50 or older) to an IRA account of the nonworking spouse and up to $5,000 per year ($6,000 if 50 or older) to an IRA account of the individual. b. If both spouses earned income and made contributions to an IRA account, each spouse must claim his or her own contribution, not to exceed $5,000 per spouse ($6,000 if 50 or older). c. If both spouses made contributions to an IRA but only a portion of the contribution is deductible on the federal return, the amount of the IRA deduction that is allowed for federal income tax purposes must be allocated between the spouses in the ratio of the IRA contribution made by each spouse to the total IRA contribution made by both spouses. d. For Keogh Plans, SEPs, SIMPLE, or Qualified Plans, each spouse must claim his or her individual contributions. LINE 17. One-half of Self-employment Tax. Enter the amount of self-employment tax that was deductible on line 27 of your federal 1040 in computing federal adjusted gross income. MARRIED SEPARATE FILERS: The deduction is allocated in the ratio of self-employment tax paid by each spouse to the total selfemployment tax paid. LINE 18. Health Insurance Deduction. Enter 100% of the amount paid for health and dental insurance premiums. This includes all supplemental health insurance, such as Medicare B supplemental medical insurance and Medicare D voluntary prescription drug insurance program (not “Medicare tax withheld” on your W-2) and long-term nursing home coverage. Schedule A may not contain any health insurance premiums which were used as a deduction on line 18. Note that no deduction is available to any individual who paid health insurance premiums on a pretax basis. MARRIED SEPARATE FILERS: If one spouse is employed and has health insurance premiums paid through his/her wages, that spouse will claim the entire deduction. If both spouses pay health insurance premiums through their wages, each spouse will claim what he/she paid. If both spouses have self-employment income, the deduction for self-employed health insurance must be allocated between the spouses in the ratio of each spouse’s self-employment income to the total selfemployment income of both spouses. If health insurance premiums are paid directly by one spouse, that spouse will claim the entire deduction. If both spouses paid through a joint checking account, the deduction would be allocated between the spouses in the ratio of each spouse’s net income to the total net income of both spouses. For this net income calculation, do not include line 18, the health insurance deduction. LINE 19. Penalty on Early Withdrawal of Savings. Enter the amount of any penalty you were charged because you withdrew funds from your time savings deposit before its maturity. MARRIED SEPARATE FILERS: Divide the penalty amount between spouses based upon registered ownership of the time deposit. LINE 20. Alimony Paid. Enter the amount of alimony payments or separate maintenance payments that were deductible on your federal tax return. MARRIED SEPARATE FILERS: Only the spouse liable for these payments can deduct the alimony paid. LINE 21. Pension/Retirement Income Exclusion. If you or your spouse receive a pension, an annuity, a self-employed retirement plan, deferred compensation, IRA distribution or other retirement plan benefits, you may be eligible to exclude from Iowa income tax part or all of the retirement income that is taxable on your federal return. Social Security benefits are not included. The exclusion can be up to $6,000 for individuals who file status 1, 5 or 6 and up to $12,000 for married taxpayers who file status 2, 3 or 4. To take this exclusion you or your spouse must meet one of the following conditions: a. 55 years of age or older on December 31, 2008, or b. disabled, or c. a surviving spouse or a survivor having an insurable interest in an individual who would have qualified for the exclusion in 2008 on the basis of age or disability. 3 41-002d (9/24/08)
Slide 7: MARRIED SEPARATE FILERS: If both spouses have pension income, whether both or only one meet the eligibility requirements, the exclusion of up to $12,000 is prorated between them in the ratio that each spouse’s pension relates to the total pension received by both spouses. If only one spouse has pension income, that spouse would take the entire exclusion of up to $12,000. The spouse who has no pension income would receive no exclusion, even if that spouse is the one who meets the eligibility requirements. LINE 22. Moving Expense Deduction. Enter the deduction for moving expenses incurred in 2008. Attach a copy of federal form 3903. MARRIED SEPARATE FILERS: This deduction must be divided between spouses based on earned income received after their move. If one spouse can show that the move was made for that spouse, that spouse is entitled to the entire deduction. LINE 23. Iowa Capital Gains Deduction. This is a 100% deduction of qualifying net capital gains realized in 2008. Capital gains from the sales of stocks, bonds, and investment property do not qualify for the capital gain deduction even if sold to lineal descendants of the owners of the property. Non-farm rental property may qualify. Changes to the holding period requirements may be found in the online Expanded Instructions. MARRIED SEPARATE FILERS: Divide the capital gain deduction based on ownership of the asset. a. Jointly held: divide equally between spouses. b. If other than jointly held: divide between spouses based on percentage of ownership. LINE 24. Other Adjustments. Enter the total of other allowable adjustments as listed below. Attach an explanation for each adjustment. a. Accrual method b. Alternative motor vehicle deduction of $2,000 for those completing federal form 8910 (Alternative Motor Vehicle Credit) c. Beneficiaries, exemption of payments to d. Capital gains from installment sales e. Capital or ordinary gain from involuntary conversion related to eminent domain f. Claim of Right deduction may be taken on line 24 or line 66, but not both g. College Savings Iowa or Iowa Advisor 529 Plan, up to $2,685 per beneficiary h. Disability income exclusion, attach IA 2440 i. Domestic production activities deduction, see federal return j. Educator expenses k. Employer Social Security credit from federal return l. Federal alcohol fuel credit from federal return m. Film production n. Foreign-earned income exclusion and/or foreign housing deduction from federal return o. Gains or losses from distressed sale transactions p. Health savings account deduction from federal return q. Injured veterans program, contributions to (do not put on IA Sch. A) r. Injured veterans program, grants from s. In-home health care t. Military exemptions u. Net operating loss, Iowa v. Organ transplant expenses w. Partnership income and/or S corporation income: Modifications that decreased the income x. Speculative shell buildings y. Student loan interest deduction from federal 1040, line 33 z. Tuition and fees deduction aa. Victim compensation awards bb. Vietnam veterans bonus cc. Wages paid to certain individuals dd. Work Opportunity Credit from federal return ee. Other federal adjustments prior to the calculation of federal 1040 line 38 (federal AGI) not already taken on the IA 1040 MARRIED SEPARATE FILERS: When the adjustment is attributable to a specific spouse, it is taken by that spouse. When the adjustment is not attributable to any one spouse, it must be prorated based on the net income amounts on line 26. Calculate through line 26 as if the adjustment in question were excluded. If the adjustment is attributable to a dependent, such as the student loan interest deduction, it is prorated based on net income before the adjustment in question. Line 26 QUALIFICATIONS FOR EXEMPTION FROM TAX: If you qualify for the low income exemption as explained below, enter the words “low income exemption” in the area to the left of your net income figure on line 26. Enter zero on line 57 and complete the remainder of the return. The following income must be included when determining if you are eligible for the $9,000 exemption or the $13,500 exemption ($18,000 or $24,000 if 65 or older on 12/31/08). a. The incomes of both husband and wife must be combined to determine if you meet this exemption from tax. b. The amount of any pension exclusion that is taken on line 21 of the IA1040. c. Any Social Security Phase-out amount from line 12 of the Social Security worksheet on page 2. d. Any amount of lump-sum distribution separately taxed on federal form 4972. e. Any net operating loss carryover. FILING STATUS 1, SINGLE: If you are using filing status 1 (single), you are exempt from Iowa tax if you meet any of the following three conditions: a. Your net income from all sources, line 26, is $9,000 or less and you are not claimed as a dependent on another person’s Iowa return. ($18,000 if you are 65 or older on 12/31/08) b. Your net income from all sources, line 26, is less than $5,000 and you are claimed as a dependent on another person’s Iowa return. c. You were a nonresident or part-year resident and had net income from Iowa sources of less than $1,000. To understand “Iowa-source income,” see the instructions for lines 1-26 of the IA 126. If Iowa 4 tax was withheld, you must complete the IA 1040 and the IA 126 in order to receive a refund of the tax. ALL OTHER FILING STATUSES: If you are filing jointly, separate on a combined return, head of household, or qualifying widow(er), you are exempt from Iowa tax if you meet either of the following conditions: a. Your net income from all sources, line 26, is $13,500 or less and you are not claimed as a dependent on another person’s Iowa return. ($24,000 if you or your spouse is 65 or older on 12/31/08) b. You were a nonresident or part-year resident and had net income from Iowa sources of less than $1,000. To understand “Iowa-source income,” see the instructions for lines 1-26 of the IA 126, page 8 of this booklet. You must complete the IA 1040 and the IA 126 in order to receive any refund. Illinois residents: See inside front cover, reciprocal agreement. MARRIED SEPARATE FILERS: Married taxpayers filing separate combined or separate returns must use the combined income of both spouses in determining eligibility for exemption from tax. If either spouse has a net operating loss that is carried back or forward, then the other spouse cannot use the low income exemption. If the spouse with the net operating loss chooses not to carry the loss back or forward, then the other can claim the low income exemption. A statement must be attached to the return saying that the spouse with the net operating loss will not carry it back or forward. 41-002e (10/7/08)
Slide 8: STEP 6 FEDERAL TAX ADDITION AND DEDUCTION LINE 27. Federal Income Tax Refund/Overpayment Received in 2008. Any federal income tax refund received during 2008 must be reported on this line. To find out the amount of your federal refund, you must contact the IRS at 1-800-829-1040 or www.irs.gov. If you chose to have any part of an overpayment of federal income tax credited to estimated tax payments for 2008, the amount should be claimed as 2008 estimated tax paid on line 32. The total overpayment must be reported on line 27. Any portion of the federal refund received due to the motor vehicle fuel tax credit must be reported on the Iowa return. Do not include the federal refund in the following situations: • Do not include any part of the refund received from earned income credit, additional child tax credit, or economic stimulus rebate. • You are filing an Iowa return for 2008 for the first time because you moved into Iowa during the year. A refund of federal tax received in 2008 is not reported if the tax was not deducted from Iowa income in a prior year. • The refund you received was from a year in which you did not take a deduction for the payment of federal tax because your income was less than the minimum amount for paying Iowa tax or your tax for that year was calculated using the alternate tax computation. • You were a nonresident for the tax year of the refund and were not required to file an Iowa return for that year. MARRIED SEPARATE FILERS: If the refund received in 2008 was from a jointly-filed federal return, it must be divided between the spouses in the ratio of the spouses’ Iowa net incomes in the year for which the refund was issued. b. If any part of the federal tax payments on lines 31, 32 or 33 include federal Household Employment taxes, then federal Household Employment taxes must be added back on line 28. MARRIED SEPARATE FILERS: Each spouse must claim his or her own self-employment tax. Household Employment taxes are divided between husband and wife in the ratio of their respective net incomes. LINE 31. Federal Tax Withheld. Enter the amount listed in the box labeled “federal income tax withheld” on the W-2 or 1099 form(s) that you received. MARRIED SEPARATE FILERS: Each spouse may claim only his or her own federal income tax withheld from wages. LINE 32. Federal Estimated Tax Payments Made in 2008. Enter the federal estimated income tax payments made in 2008. Include any credit applied from your 2007 federal income tax overpayment. MARRIED SEPARATE FILERS: All federal estimated tax payments made in 2008 are divided between spouses in the same ratio as their incomes not subject to federal withholding for the 2008 tax year. LINE 28. Self-employment/Household Employment Taxes. a. If any part of the federal tax payments on lines 31, 32 or 33 include self-employment tax, then the self-employment tax must be added back on line 28. LINE 33. Additional Federal Tax Paid in 2008. a. Enter the amount of additional federal income tax paid during 2008 for tax year 2007 and any other years before 2007. The amount of additional federal income tax paid is deductible only if Iowa income tax returns were required to be filed for the year for which the additional federal income tax was paid. Include only the actual federal tax payments made in 2008, but DO NOT include penalties and interest. MARRIED SEPARATE FILERS: The additional federal tax paid must be divided between the spouses in the ratio of the spouses’ Iowa net incomes for the prior years for which they paid additional federal income tax. b. FICA payments in excess of $6,324.00 for Social Security tax for each person and the motor vehicle fuel tax credit from the 2008 federal return can be deducted as a federal tax payment on line 33. STEP 7 ITEMIZED OR STANDARD DEDUCTION You may itemize deductions or claim the Iowa standard deduction, whichever is larger. You may itemize deductions on your Iowa return even if you did not itemize deductions on your federal return. MARRIED SEPARATE FILERS: If one spouse uses the standard deduction, then both spouses must use the standard deduction, even if separate Iowa returns are filed. LINE 37. Total Itemized Deductions. registration fees paid based on the value of qualifying automobiles • If itemizing, taxpayers that have federal Bonus Depreciation on and multipurpose vehicles. Multipurpose vehicles are defined as form IA 4562A must complete the Iowa Schedule A rather than motor vehicles designed to carry not more than 10 people, and using a copy of the federal Schedule A. constructed either on a truck chassis or with special features for • The itemized deduction for state sales and use tax paid is allowed occasional off-road operation [Iowa Code Section 321.1(44)]. Annual only if the taxpayer claimed it as an itemized deduction on the registration fees on the following vehicles are not deductible: federal return. pickups, motor trucks, work vans, ambulances, hearses, non• Taxpayers with the mortgage interest credit deduction can claim passenger-carrying vans, campers, motorcycles, or motor bikes. See on their Iowa return a deduction on line 9b of Schedule A for all 2008 Expanded Instructions online. home mortgage interest paid in the tax year and not just the home Newer Vehicles: Use the following worksheet to calculate the mortgage interest that was deducted on the federal Schedule A. deductible amount of registration fees paid in 2008 for • School Tuition Organization Tax Credit Contributions: Do not qualifying automobiles (model year 1998 or newer) and include as an itemized deduction any contributions for which a multipurpose vehicles (model year 1993 or newer). credit is claimed on line 53 of the IA 1040. Line 37 Vehicle Registration Deduction Worksheet • Injured Veterans Grant Program Contributions: These 1. Enter the actual annual registration fee paid ....... 1. ____________ contributions do not qualify as itemized deductions. 2. Take the weight of your vehicle and divide it by 250. The weight is found on your registration. ... 2. ____________ • Charitable Conservation Contribution Tax Credit: Do not include 3. Subtract line 2 from line 1. This is the as an itemized deduction any contributions for which a credit is deductible amount for line 37. ............................ 3. ____________ claimed on line 53 of the IA 1040. • Health Insurance Premiums: Do not include as an itemized Older Vehicles: For qualifying automobiles (model year 1997 deduction any health insurance premiums shown on line 18 of the or older) and multipurpose vehicles (model year 1992 or older) IA 1040. the deductible amount is 60% of the registration fees paid in • Vehicle Registration Fee Deduction. If you itemize deductions, a 2008. portion of the automobile registration fee you paid in 2008 may be Iowa Itemized Deduction Worksheet form IA 104 must be used if deducted as personal property tax on your Iowa Schedule A, line 6, your federal AGI is more than $159,950 ($79,975). and federal Schedule A, line 7. This deduction is for annual 5 See online 2008 Expanded Instructions. 41-002f (10/7/08)
Slide 9: LINE 38. Iowa Income Tax if included in line 5 of federal Schedule A. If your total itemized deductions on line 37 includes Iowa income tax, enter the amount of Iowa income tax. MARRIED SEPARATE FILERS: Iowa income tax deduction must be divided between husband and wife in the ratio of their respective net incomes. LINE 40. Other Deductions. Include the following: a. Expenses Incurred for Care of a Disabled Relative: Expenses, not to exceed $5,000, incurred in caring for a disabled relative in your home may be deducted. The expenses must be for the care of a person who is your grandchild, child, parent, or grandparent. The disabled person must be unable, by reason of physical or mental disability, to live independently and must be receiving or be eligible to receive medical assistance benefits under Title 19 of the U.S. Social Security Act. Only expenses which are not reimbursed can be claimed. An itemized list of expenses must be included with the return. Items may include food, clothing, medical expenses not otherwise deductible, and transportation. The following expenses cannot be included: rent, mortgage payments, interest, utilities, house insurance, and taxes. A statement from a qualified physician certifying that the person with the disability is unable to live independently must be submitted with the return the first year the deduction is taken and every third year thereafter. MARRIED SEPARATE FILERS: The total deduction claimed by both spouses for each relative with a disability may not exceed $5,000. This deduction must be divided between husband and wife in the ratio of their respective net incomes. b. Adoption Expenses: If you adopted a child during the tax year, you may be eligible to deduct a portion of the adoption expenses you paid in 2008. This deduction is taken in the year you paid the expenses even if the child is not placed in your home that year. Costs relating to the child’s birth, any necessary fees, and all other costs connected with the adoption procedure are allowed. Include a list of expenses with your return. Subtract 3% of your total Iowa net income entered on line 26 from the total of qualifying adoption expense. If married, 3% of the combined net income must be subtracted. Only the amount which exceeds 3% of your total Iowa net income may be deducted. MARRIED SEPARATE FILERS: This deduction must be divided between husband and wife in the ratio of their respective net incomes. c. Mileage Deduction for Charitable Purposes: Iowa allows you an additional deduction for automobile mileage driven for charitable organizations. Calculate the deduction as follows: 1. Number of miles x 39¢/mile ...................... 1. _____________ 2. Less charitable mileage deduction entered on federal or Iowa Schedule A ...... 2. _____________ 3. Equals additional mileage deduction for charitable purposes. .............................. 3. _____________ LINE 41. Itemized or Standard Deduction. Mark the correct box to show the deduction method used. STANDARD: Tax year 2008, standard deduction is: Filing Status 1: $1,750 Filing Status 3 & 4: $1,750 for each spouse Filing Status 2, 5 or 6: $4,310 STEP 8 TAX CALCULATION LINE 43. Tax from Tables or Alternate Tax. The tax tables begin on page 11 for all filing statuses. Alternate Tax Calculation: For filing statuses 2, 3, 4, 5, and 6. If the combination of your net income from line 26 PLUS any pension exclusion taken on line 21 and Social Security Phase-out taken on line 12 of the Social Security worksheet on page 2 exceeds $13,500 ($24,000 if you or your spouse is 65 or older on 12/31/08), you may owe less tax by completing the worksheet below to compute your tax liability. Enter this alternate tax on line 43 if it is less than the tax from the tax table. This is not available to status 1 filers. If you are married filing separately and one spouse has a net operating loss that will be carried back or forward, then you cannot use the alternate tax computation. If the spouse with the net operating loss elects not to carry the net operating loss back or forward, then you can use the alternate tax computation. A statement must be attached to the return saying that the spouse with the net operating loss will not carry it back or forward. ALTERNATE TAX CALCULATION 1. Enter the total of net income from line 26, pension exclusion from line 21 of the IA 1040 and Social Security Phase-out taken on line 12 of the Social Security worksheet on page 2. Filing statuses 3 or 4: Enter combined totals of both spouses. ......... 1. _____________ 2. Subtract $13,500 from line 1. ($24,000 if you or your spouse is 65 or older on 12/31/08) ......... 2. _____________ 3. Income subject to alternate tax. ........................... 3. _____________ 4. Multiply line 3 by 8.98% (.0898). ....................... 4. _____________ 5. Using the tax tables, determine the tax on the taxable income from line 42 of the IA 1040. Status 3 and 4 filers: Calculate tax separately and combine the amounts. .................................. 5. _____________ 6. Compare the amounts on line 4 and line 5. Enter the smaller amount here and on line 43, IA 1040. .............................................................. 6. _____________ MARRIED SEPARATE FILERS (including status 4): Use the combined net incomes of both spouses to compute the alternate tax. (If you are status 4 and do not provide the other spouse’s income in Step 2 of the IA 1040, you will not be allowed the alternate tax calculation.) Divide the alternate tax between spouses in the ratio of the net income of each spouse to the combined net income of both spouses. “Net income” for purposes of this proration is the amount from line 26, plus any pension exclusion from line 21 and Social Security Phase-out taken on line 12 of the Social Security worksheet. LINE 44. Iowa Lump-sum Tax. Enter 25% of federal tax from form 4972. LINE 45. Iowa Minimum Tax. The Iowa minimum tax is imposed, for the most part, on the same tax preference items and adjustments on which federal minimum tax is imposed. However, you may be subject to Iowa Minimum Tax even if you have no liability for federal minimum tax. If you had tax preference items and adjustments in 2008, see form IA 6251 for further information. NONRESIDENTS AND PART-YEAR RESIDENTS: If you have Iowa-source tax preferences or adjustments, you may be subject to Iowa Minimum Tax. See form IA 6251. LINE 48. Tuition and Textbook Credit. Taxpayers who have one or more dependents attending Kindergarten through 12th grade in an accredited Iowa school may take a credit for each dependent for amounts paid for tuition and textbooks. Dependents must have attended a school in Iowa that is accredited under section 256.11, not operated for a profit and adheres to the provisions of the U.S. Civil Rights Act of 1964. The credit amount is 25% of the first $1,000 paid for each dependent for tuition and textbooks. In the case of divorced or separated parents, only the spouse claiming the dependent can claim the amounts paid by that spouse for tuition and textbooks for that dependent. Expenses for textbooks or other items for home schooling, tutoring, or schooling outside an accredited school do not qualify for the credit. “Tuition” means any charges for the expense of personnel, buildings, 6 41-002g (7/31/08)
Slide 10: equipment and materials other than textbooks, and other expenses that relate to the teaching of only those subjects legally and commonly taught in Iowa’s public elementary and secondary schools. “Textbooks” means books and other instructional materials used in teaching those same subjects. This includes fees, books and materials for extracurricular activities. Examples of extracurricular activities: sporting events, speech activities, musical or dramatic events, driver’s education (if paid to a school), awards banquets, homecoming, prom (clothing does not qualify), and other school related social events, etc. For lists of items eligible and not eligible for the credit, see 2008 Expanded Instructions on our Web site. Calculate the proper amount of expenses per dependent and multiply the amount – not to exceed $1,000 – by 25% (.25). Example: Students Patty and Mark have qualifying expenses of $1,400 and $700 respectively. Their parents can take a credit of $250 (25% of $1,000 maximum) for Patty and $175 (25% of $700) for Mark, for a total credit of $425. MARRIED SEPARATE FILERS: The Tuition and Textbook Credit must be divided between husband and wife in the ratio of their respective net incomes. Any unused part of this credit cannot be used by the other spouse. Credit can be claimed only for dependents listed on the return. LINE 51. Credit for Nonresident or Part-year Resident. Enter the amount of your nonresident/part-year resident tax credit from Schedule IA 126, line 33. IA 126 instructions begin on page 8. Examples are available in the Expanded Instructions. You may owe less tax by using filing status 3 or 4. A copy of Schedule IA 126 and a copy of your federal return must be attached. LINE 53. Other Nonrefundable Iowa Credits. Enter the total of the credits from Part I of the IA 148 Tax Credits Schedule. See the 2008 Expanded Instructions online for the list of credits. You must attach the IA 148 to the IA 1040. LINE 55. School District Surtax/EMS Surtax. Multiply the amount on line 54 by the surtax rate and enter the result. The applicable school district is the one in which you resided on the last day of the tax year, not necessarily the district where your children attend school. Taxpayers without children, or without children in public school, are still subject to this tax. Surtax rates are listed on pages 16-17. The name of your school district may be found on your voter registration card. LINE 58. Contributions. Enter your voluntary contributions to any of the “checkoffs” in boxes 58a, 58b, 58c, and 58d. Please note that you may contribute to any of the checkoffs regardless of whether you are entitled to a refund or owe additional taxes, but your contribution will reduce your refund or add to the amount you owe. Your contribution this year will qualify as a charitable contribution on next year’s return if the return is filed during the calendar year. If you file an amended return, you cannot change your contribution. MARRIED SEPARATE FILERS: Married couples filing separately on a combined return (filing status 3) must enter their combined checkoff amounts in the appropriate box(es) if both choose to contribute. STEP 9 CREDITS LINE 60. Iowa Income Tax Withheld. Enter the total amount of income tax withheld for Iowa on your W-2s, W-2Gs, and/or 1099s. LINE 61. Estimated and Voucher Payments. Enter the total amount of 2008 Iowa estimated tax payments. This includes any fourth quarter payment made in January 2009 and any payments made with the IA 1040-V Payment Voucher for 2008. Also include any overpayment from your 2007 income tax return that you applied to your estimated tax for 2008. LINE 62. Out-of-state Tax Credit. All income an Iowa resident earns is taxable to Iowa to the same extent that it is taxable on the federal return even if the income was earned in another state or foreign country. If another state or foreign country taxes that same income, then the Iowa resident may be able to claim the Out-Of-State Tax Credit by completing the IA 130 form. See examples on page 10. LINE 63. Motor Fuel Tax Credit. Enter the amount of Motor Fuel Tax Credit from Schedule IA 4136. The federal Schedule 4136 cannot be used. The Iowa credit does not apply to fuel used in on-road vehicles or pleasure boats. If you have an Iowa Motor Fuel Tax Refund Permit Number and have claimed any refunds during the tax year, do not claim any credit on this line. LINE 64. Child and Dependent Care Credit OR Early Childhood Development Tax Credit. Only one of these credits may be taken. Only taxpayers with a net income of less than $45,000 are eligible to take one of these credits. If you are married, your net income and the net income of your spouse must be combined to determine if you qualify, even if your spouse does not file an Iowa return. If you are choosing the Child and Dependent Care Credit, use the following worksheet to calculate the credit. 3. Multiply line 1 by percentage on line 2. Enter the result here and on line 64 of the IA 1040. 3. ___________ NONRESIDENTS AND PART-YEAR RESIDENTS - The Child and Dependent Care Credit must be adjusted using the following formula: Iowa net income (line 26, IA 126) All-source net income of you and spouse (line 26, IA 1040) ÷ x credit calculated above on = credit64 line If you are choosing the Early Childhood Development Tax Credit, you may take the credit equal to 25% of the first $1,000 of qualifying expenses paid in 2008 for each dependent from the ages of three through five. Expenses that qualify include the following: • Services provided by a preschool, as defined in Code section 237A.1 • • • • Books that improve child development, such as textbooks, music and art books, teacher’s editions and reading books Instructional materials required to be used in a lesson activity, such as paper, notebooks, pencils and art supplies Lesson plans and curricula 1. Enter the amount from line 9 of federal form 2441 or line 9 of Schedule 2 of federal form 1040A. Note: Use the Child Care Credit prior to any federal Alternative Minimum Tax calculation. 1. _____________ 2. If total of line 26 of the IA 1040, columns A and B, is: allowable % allowable % Less than $10,000 ....... 75% $25,000 - $34,999 ... 50% $10,000 - $19,999 ...... 65% $35,000 - $39,999 ... 40% $20,000 - $24,999 ...... 55% $40,000 - 44,999 ... 30% $45,000 and over: ..... 0% Enter % here 2. ___________ Child development and educational activities outside the home, such as drama, art, music and museum activities and the entrance fees for such activities Early childhood development expenses that do not qualify include: • Food, lodging, or membership fees relating to child development and educational activities outside the home • Services, materials, or activities for the teaching of religious tenets, doctrines, or worship, if the purpose of these expenses is to instill those tenents, doctrines or worship MARRIED SEPARATE FILERS: In computing the credit, the combined net income of both spouses must be used. The credit must be divided between husband and wife in the ratio of each spouse’s net income to their combined net income. 7 Expanded Instructions are at www.state.ia.us/tax 41-002g (9/8/08)
Slide 11: LINE 65. Iowa Earned Income Credit. Enter 7.0% (0.07) of the federal Earned Income Credit claimed on your federal return. The Iowa Earned Income Credit is now a refundable credit to the extent it exceeds your calculated tax. NONRESIDENTS AND PART-YEAR RESIDENTS: The Iowa Earned Income Credit must be adjusted using the following formula: Iowa net income (line 26, IA 126) credit on ÷ x Iowa Earned Income Credit line 65 All-source net income of you and spouse (line 26, IA 1040) = MARRIED SEPARATE FILERS: The Iowa Earned Income Credit must be divided between husband and wife in the ratio of each spouse’s earned income to the total earned income of both spouses. Earned income includes wages, salaries, tips or other compensation and net earnings from self-employment. LINE 66. Other Refundable Credits. Enter the total of other credits from Part II of the IA 148 Tax Credits Schedule. See the 2008 Expanded Instructions online for the list of credits. You must attach the IA 148 to the IA 1040. STEP 10 REFUND OR AMOUNT YOU OWE LINE 73. Penalty for Underpayment of Estimated Tax: If you are required to make estimated tax payments but fail to make the payments, you are subject to a penalty in addition to any tax you may owe. The penalty is determined in the same way as for federal purposes. Consequently, you must include your Iowa income, lump-sum, and minimum taxes when calculating the penalty for underpayment of estimated tax. If you are subject to this penalty, complete IA 2210 (IA 2210F for farmers and fishers) and enter the penalty on this line. Attach a copy of the IA 2210 or IA 2210F to your return. If you choose to use the annualized method of computing the penalty, attach a copy of your worksheet to your tax return. If you are due a refund, subtract the penalty amount from the overpayment you show on line 70 or line 71. STEP 11: POLITICAL CHECKOFF Contributions to this checkoff do not reduce your refund or increase your amount due. Contributing to this checkoff is not required. You may assign $1.50 to a specific political party or to the Iowa Election Campaign Fund for distribution to qualifying parties. A husband and wife may each assign $1.50 to the party of his or her choice regardless of the filing status of the return. STEP 13: COW/CALF REFUND Form IA 132 and Expanded Instructions are on our Web site. LINE 74. Penalty and Interest. 74a. 10% Penalty for Failure to Timely File a Return: If you do not file your return by the due date and at least 90% of the correct tax is not paid, you owe an additional 10% of the unpaid tax. 5% Penalty for Failure to Timely Pay the Tax Due: If you file your return on time but do not pay at least 90% of the correct tax due, you owe an additional 5% of the unpaid tax. 74b. Interest must be added to delinquent tax. Interest is added at a rate of 0.7% per month beginning on the day after the due date of the return and accrues each month until paid in full. LINE 75. You have three options to pay the amount due. See the back cover of this booklet for electronic options. You may also mail a check or money order with an IA 1040-V Payment Voucher payable to Treasurer, State of Iowa. Do not send in any payment of less than one dollar. STEP 14: SIGNATURE Returns are not processed and refunds are not issued if returns are not signed. If you and your spouse file a joint or combined return, both of you must sign. Deceased Taxpayer: If your spouse died and you are filing a joint or combined return, write on the deceased’s signature line “Filing as a surviving spouse” and the date of death. Also, attach any forms required to be filed with your federal return, such as federal form 1310 or a copy of the court certificate showing your appointment as a personal representative of the decedent. 2008 INSTRUCTIONS FOR SCHEDULE IA126 You will need to complete the IA 1040 Long Form lines 1 – 50 before you can complete the IA 126. The IA 1040 must be completed using all-source income. Nonresidents and part-year residents of Iowa will use the IA 126 to figure your Iowa source income. The credit from this form is used to reduce total tax on your IA 1040. Please attach a copy of your federal return. For part-year Iowa residents, Iowa net income includes all income received while living in Iowa plus any Iowa-source income received while a nonresident. For nonresidents, Iowa net income will include all income from Iowa sources. Complete lines 1-26 of the IA 126 using only income from Iowa sources. Enter the amount of credit from line 33, IA 126 on line 51, IA 1040. If you used filing status 3 (married filing separately on the combined return) on your IA 1040, you will divide your Iowa income between spouses using the instructions given for the corresponding line on the IA 1040 for married separate filers. 1. WAGES, SALARIES, TIPS, ETC. Part-year residents: Include all W-2 income earned while an Iowa resident, even if it was earned in another state, and any income for services performed in Iowa while a nonresident of the state. If it was earned in another state, you may also need to fill out the IA 130 when you pay tax to the other state. You will need to check with that state for their filing requirements. Nonresidents: Report only Iowa-source income. If the portion of employee compensation earned in Iowa by a nonresident is not reported separately, allocate the compensation based upon the number of days worked in Iowa to total work days. 2. TAXABLE INTEREST INCOME. Nonresidents: Report only the interest derived from an Iowa trade, business or profession. 3. DIVIDEND INCOME. Part-year residents: Report all dividends received while an Iowa resident and any dividends derived from an Iowa trade, business or profession while a nonresident. Nonresidents: Report the dividends derived from an Iowa trade, business or profession. 4. ALIMONY RECEIVED. Part-year residents: Report all interest shown on the IA 1040 which accrued while an Iowa resident and any interest received while a nonresident which was derived from a trade, business or profession carried on within Iowa. Part-year residents: Report all alimony or separate maintenance payments received while an Iowa resident. Nonresidents: Do not enter anything on this line. 5. BUSINESS INCOME OR (LOSS). 8 Part-year residents: Report all federal Schedule C or C-EZ income earned while an Iowa resident and any portion of business income or 41-002h (4/9/09)
Slide 12: loss earned while a nonresident attributable to a business conducted in Iowa. Nonresidents: Report the portion of business income or loss attributable to a business conducted in Iowa. Attach a supporting schedule showing Iowa gross receipts divided by total gross receipts; multiply this ratio times the total net income from federal Schedule C or C-EZ. A sale is considered an Iowa sale if goods are delivered or shipped to a point within the state regardless of F.O.B. point. 6. CAPITAL GAIN OR (LOSS). on the basis of the Iowa salaries and wages to the total salary and wages. 13. TAXABLE SOCIAL SECURITY BENEFITS. Part-year residents: Report any Social Security income reported on line 13 of the IA 1040 which was received while an Iowa resident. Nonresidents: Do not enter anything on this line. 14. OTHER INCOME. Part-year residents: Include 100% of the capital gains or losses from assets sold during the time they were Iowa residents. In addition, capital gains or losses from assets sold while a nonresident of Iowa should be reported on the basis of the instructions for nonresidents that follow. Nonresidents: Include in Iowa income 100% of capital gains or losses from the following: a. Sales of real or tangible personal property if the property was located in Iowa at the time of the sale; or b. Sales of intangible personal property if the taxpayer’s commercial domicile is in Iowa. NOTE: You may have a gain here even if you have a net loss on the IA 1040. 7. OTHER GAINS OR (LOSSES). Part-year residents: Report any income on line 14 of IA 1040 which was received while an Iowa resident or income from Iowa sources while a nonresident. This includes gambling income and the Bonus Depreciation Adjustment attributable to Iowa from the IA 4562A. Nonresidents: Report all other taxable income from Iowa sources. This includes gambling income. 16. PAYMENTS TO AN IRA, KEOGH OR SEP. Part-year residents: Deduct the payments made to an IRA, Keogh or SEP plan while an Iowa resident. Nonresidents: Deduct the payments made to an IRA, Keogh or SEP plan in the ratio of Iowa earned income to total earned income. 17. ONE-HALF OF SELF-EMPLOYMENT TAX. Part-year residents: Report 100% of gains or losses from assets sold or exchanged while an Iowa resident and any gains or losses from federal form 4797 while a nonresident if the property was located in Iowa at the time of sale or exchange. Nonresidents: Report any gains or losses from federal form 4797 if the property was located in Iowa. NOTE: You may have a gain here even if you have a net loss on the IA 1040. 8. TAXABLE IRA DISTRIBUTIONS. Part-year residents: Deduct the portion of the self-employment tax that is attributable to the self-employment income earned while an Iowa resident. Nonresidents: Deduct the portion of the amount allowed on your federal return in the ratio of your Iowa self-employment income to your total self-employment income. 18. HEALTH INSURANCE DEDUCTION. Part-year residents: Report any taxable IRA distributions received while an Iowa resident. Nonresidents: Do not enter anything on this line. 9. TAXABLE PENSIONS AND ANNUITIES. Pension is taxable to the state you live in when you receive it. Part-year residents: Report any pension and annuity income reported on line 9 of the IA 1040 which was received while an Iowa resident. Nonresidents: Do not enter anything on this line. 10. RENTS, ROYALTIES, PARTNERSHIPS, ESTATES, TRUSTS, ETC. Part-year residents: Report all income shown on federal Schedule E which was earned or received while an Iowa resident and all rents and royalties from Iowa sources and partnerships or S Corporation income earned or received while a nonresident. Nonresidents: Report all rents and royalties from Iowa sources and all Iowa partnership or S Corporation income. See instructions for allocation of business income on line 5 of this section. 11. FARM INCOME OR (LOSS). Part-year residents: a. Self-employed. Enter 100% of the health insurance premiums paid by a self-employed individual while an Iowa resident. b. Deducted through wages. Enter 100% of the health insurance premiums that were not withheld from your wages on a pretax basis while an Iowa resident. c. Paid direct by taxpayer. Enter 100% of the health insurance premiums that you paid while an Iowa resident. Nonresidents: a. Self-employed. Enter 100% of the health insurance premiums paid by a self-employed individual in the ratio of Iowa self-employment income to total self-employment income. b. Deducted through wages. Enter 100% of the health insurance premiums that were not withheld from your wages on a pretax basis in the ratio of Iowa wages to total wages. c. Paid direct by taxpayer. Multiply the health insurance premiums that you paid by the ratio of your Iowa-source net income on line 26 of the IA 126 to total net income on line 26 of the IA 1040. For this net income calculation, do not include line 18, the health insurance deduction in the above-referenced net income amounts. 19. PENALTY ON EARLY WITHDRAWAL OF SAVINGS. Part-year residents: Report all net farm income earned or received while an Iowa resident. Also report all net income from Iowa farm activities while a nonresident using the instructions for nonresidents given below. Nonresidents: Report the total net income from the Iowa farm activities. If farm activities were conducted both within and without Iowa, provide a separate schedule showing allocation of the income and expenses to Iowa. 12. UNEMPLOYMENT COMPENSATION. Part-year residents: Deduct the amount of any penalty you were charged because you withdrew funds from your time savings deposit before its maturity while an Iowa resident or what was derived from an Iowa trade, business or profession. Nonresidents: Deduct the amount of any penalty you were charged because you withdrew funds from your time savings deposit before its maturity that was derived from an Iowa trade, business or profession. 20. ALIMONY PAID. Part-year residents: Deduct alimony paid while an Iowa resident. Nonresidents: Deduct alimony paid in the ratio of Iowa gross income to total gross income. 21. PENSION/RETIREMENT INCOME EXCLUSION. Part-year residents: Report all unemployment benefits received while an Iowa resident and those benefits received the rest of the year that relate to past employment in Iowa. Nonresidents: Report the unemployment benefits that relate to employment in Iowa. If the unemployment benefits relate to employment in Iowa and employment in another state, report the benefits to Iowa Part-year residents: If you qualify for this exclusion on the IA 1040, you may exclude the amount of taxable retirement income received while an Iowa resident, up to a maximum of $6,000 (if filing status 1, 5, or 6) or $12,000 (if filing status 2, 3, or 4). 9 41-002i (10/7/08)
Slide 13: Nonresidents: Iowa-source retirement income received by a nonresident is not taxable to Iowa. Therefore, you do not qualify to take this exclusion. Do not enter anything on this line. 22. MOVING EXPENSES. Nonresident Example 1: Part-year residents who moved into Iowa can enter any moving expenses from line 22 of the IA 1040 that relate to the move to Iowa. Part-year residents moving out of Iowa cannot take any deduction on this line. Nonresidents: Do not enter anything on this line. 23. IOWA CAPITAL GAIN DEDUCTION. Chad is a resident of Nebraska and works in Iowa. His income includes wages earned in Iowa and interest income from a Nebraska bank. Chad will report the wages and interest on the IA 1040 as all-source income. He will list his wages only on the IA 126 as his Iowa-source income. Nonresident Example 2: Enter 100% of qualifying capital gains that are attributable to Iowa sources. 24. OTHER ADJUSTMENTS. Deduct miscellaneous adjustments to income in the same ratio as the income to which the adjustment relates was allocated to Iowa. 26. IOWA NET INCOME. Laura lived in Illinois the entire tax year. She earned $25,000 in wages from Iowa and won $5,000 at an Iowa casino. She will report all of her income on the IA 1040 as all-source income. Only the gambling income will be reported on the IA 126 as her Iowa-source income. Iowa has a reciprocal agreement with Illinois, which means that wages and salaries are taxed by the individual’s state of residence. All income received from gambling in Iowa is taxable to Iowa regardless of the person’s state of residence. Part-year Resident Example: Subtract line 25 from line 15 and enter the difference on this line. If line 26 is $1,000 or more or you are subject to Iowa lump-sum or minimum tax, complete lines 27 through 33. If line 26 is less than $1,000 and you are not subject to Iowa lump sum or minimum tax, you are not required to file an Iowa income tax return. However, if you had Iowa tax withheld and are requesting a refund, put 100% on line 29 and complete the remainder of the schedule. Jill lived and worked in Iowa the first six months of the tax year. In addition to her wages, she received interest income from an Iowa bank. Jill then moved to Missouri, where she was employed for the rest of the year. She continued to receive interest income from the Iowa bank. Jill will report all of her income from both states on the IA 1040 as allsource income. On the IA 126, she will report only the wages and interest income earned while an Iowa resident as Iowa-source income. The interest income earned the last half of the year is not considered Iowa-source income since Jill was no longer an Iowa resident. IOWA SCHEDULE IA130 Out-of-State Tax Credit Schedule IA 130, the Iowa Out-of-State Credit Computation, is only for residents or part-year residents of Iowa who earned income while an Iowa resident which was taxed by another state or foreign country. Example 1 - Full-Year Iowa Residents Only Example 2 - Part-Year Iowa Residents Only Jennifer lived in Iowa all year but worked in both Iowa and Nebraska. She earned $10,000 in Iowa. She also earned $15,000 in Nebraska that was taxed by Nebraska. Jennifer would report $25,000 on line 15 of the IA 1040 as gross income. Line 54 of the IA 1040 would be $1,050. On the Nebraska state return the tax imposed* on her income was $450. Column B Column A Spouse You or Joint Status 3 Only 1. Amount of gross income you received that was taxed by Iowa and taxed by the other state/foreign country. ......................... $15,000 2. Gross taxable income for residents from line 15, IA 1040. ................................................................... 25,000 3. Divide line 1 by line 2 and enter the percentage (not to exceed 100.0%) .......................................... 60% 4. Tax from line 54, IA 1040 (less lump sum tax and minimum tax) ..................................................... 1,050 5. Multiply line 4 by percentage on line 3 ........................................................................................... 630 6. Enter the tax imposed* by the other state or foreign country .............................................................. 450 7. Enter the smaller of line 5 or 6. This is your out-of-state tax credit. Enter this amount on line 62, IA 1040 ................................................. 450 * “Tax imposed” is the tax calculated from the tax formula/tables on the other state/foreign country’s tax return, less any nonrefundable credits. Do not reduce this figure by the tax withheld or estimated tax payment made to the other state/foreign country. Benny lived in Iowa until the end of June. July 1 he moved to Missouri. He worked all year in the state of Missouri. Benny earned a salary of $30,000 for the year, $15,000 while he lived in Iowa and $15,000 while he lived in Missouri. Benny also earned $10,000 farm rental income from farmland located in Iowa. Line 54 of the IA 1040 would be $1,292. On the Missouri state return, the tax imposed* on his income was $1,000. Column B Column A Spouse You or Joint Status 3 Only 1. Amount of gross income you received that was taxed by Iowa and taxed by the other state/foreign country. ........................ $15,000 2. Gross taxable income for part-year residents from line 15, IA 126 ............................................................ 25,000 3. Divide line 1 by line 2 and enter the percentage (not to exceed 100.0%) ......................................... 60% 4. Tax from line 54, IA 1040 (less lump sum tax and minimum tax) .................................................... 1,292 5. Multiply line 4 by percentage on line 3 .......................................................................................... 775 6. Enter the tax imposed* by the other state or foreign country .......................................................... 1,000 7. Enter the total amount of gross income taxed by the other state/ foreign country. ................................................................... 30,000 8. Divide line 1 by line 7 and enter the percentage (not to exceed 100.0%) ......................................... 50% 9. Multiply line 6 by the percentage on line 8. ........................................................................................ 500 10. Enter the smaller of line 5 or 9. This is your out-of-state tax credit. Enter this amount on line 62, IA 1040. ............................................... 500 10 41-002j (10/7/08)
Slide 14: To find your tax: Read down the left column until you find the range for your Iowa taxable income from line 42 on form IA1040. Read across to the column marked “Your Tax Is.” Enter the amount on line 43. 2008 IA1040 TAX TABLES For All Filing Statuses If line 42 of form IA1040 is: Your Tax Is 96 98 100 103 105 107 109 112 114 116 118 121 123 125 127 130 132 134 136 139 141 143 145 148 150 152 154 157 159 161 163 166 168 170 172 175 177 179 181 184 186 188 190 193 195 197 199 202 204 206 208 211 213 215 217 220 222 224 226 229 231 233 235 238 240 242 244 247 249 251 253 256 258 260 262 265 Over 9,600 9,650 9,700 9,750 9,800 9,850 9,900 9,950 10,000 10,050 10,100 10,150 10,200 10,250 10,300 10,350 10,400 10,450 10,500 10,550 10,600 10,650 10,700 10,750 10,800 10,850 10,900 10,950 11,000 11,050 11,100 11,150 11,200 11,250 11,300 11,350 11,400 11,450 11,500 11,550 11,600 11,650 11,700 11,750 11,800 11,850 11,900 11,950 12,000 12,050 12,100 12,150 12,200 12,250 12,300 12,350 12,400 12,450 12,500 12,550 12,600 12,650 12,700 12,750 12,800 12,850 12,900 12,950 13,000 13,050 13,100 13,150 13,200 13,250 13,300 13,350 But Not Over 9,650 9,700 9,750 9,800 9,850 9,900 9,950 10,000 10,050 10,100 10,150 10,200 10,250 10,300 10,350 10,400 10,450 10,500 10,550 10,600 10,650 10,700 10,750 10,800 10,850 10,900 10,950 11,000 11,050 11,100 11,150 11,200 11,250 11,300 11,350 11,400 11,450 11,500 11,550 11,600 11,650 11,700 11,750 11,800 11,850 11,900 11,950 12,000 12,050 12,100 12,150 12,200 12,250 12,300 12,350 12,400 12,450 12,500 12,550 12,600 12,650 12,700 12,750 12,800 12,850 12,900 12,950 13,000 13,050 13,100 13,150 13,200 13,250 13,300 13,350 13,400 Your Tax Is 267 269 271 274 276 278 280 283 285 287 289 292 294 296 298 301 303 305 307 310 312 314 316 319 321 323 325 328 330 332 334 337 339 341 343 346 348 350 352 355 357 359 361 364 366 368 370 373 375 377 379 382 384 386 388 391 393 396 399 402 405 408 411 414 418 421 424 427 430 433 436 439 442 445 448 451 If line 42 of form IA1040 is: Over 0 150 400 700 950 1,250 1,450 1,600 1,750 1,850 2,000 2,150 2,300 2,450 2,550 2,700 2,800 2,850 2,900 2,950 3,000 3,050 3,100 3,150 3,200 3,250 3,300 3,350 3,400 3,450 3,500 3,550 3,600 3,650 3,700 3,750 3,800 3,850 3,900 3,950 4,000 4,050 4,100 4,150 4,200 4,250 4,300 4,350 4,400 4,450 4,500 4,550 4,600 4,650 4,700 4,750 4,800 4,850 4,900 4,950 5,000 5,050 5,100 5,150 5,200 5,250 5,300 5,350 5,400 5,450 5,500 5,550 5,600 5,650 5,700 5,750 But Not Over 150 400 700 950 1,250 1,450 1,600 1,750 1,850 2,000 2,150 2,300 2,450 2,550 2,700 2,800 2,850 2,900 2,950 3,000 3,050 3,100 3,150 3,200 3,250 3,300 3,350 3,400 3,450 3,500 3,550 3,600 3,650 3,700 3,750 3,800 3,850 3,900 3,950 4,000 4,050 4,100 4,150 4,200 4,250 4,300 4,350 4,400 4,450 4,500 4,550 4,600 4,650 4,700 4,750 4,800 4,850 4,900 4,950 5,000 5,050 5,100 5,150 5,200 5,250 5,300 5,350 5,400 5,450 5,500 5,550 5,600 5,650 5,700 5,750 5,800 Your Tax Is 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 17 18 19 20 21 23 24 25 26 27 29 30 31 32 34 35 36 37 38 40 41 42 43 44 46 47 48 49 51 52 53 54 55 57 58 59 60 61 63 64 65 66 68 69 70 71 72 74 75 76 77 78 80 81 82 85 87 89 91 94 If line 42 of form IA1040 is: Over 5,800 5,850 5,900 5,950 6,000 6,050 6,100 6,150 6,200 6,250 6,300 6,350 6,400 6,450 6,500 6,550 6,600 6,650 6,700 6,750 6,800 6,850 6,900 6,950 7,000 7,050 7,100 7,150 7,200 7,250 7,300 7,350 7,400 7,450 7,500 7,550 7,600 7,650 7,700 7,750 7,800 7,850 7,900 7,950 8,000 8,050 8,100 8,150 8,200 8,250 8,300 8,350 8,400 8,450 8,500 8,550 8,600 8,650 8,700 8,750 8,800 8,850 8,900 8,950 9,000 9,050 9,100 9,150 9,200 9,250 9,300 9,350 9,400 9,450 9,500 9,550 But Not Over 5,850 5,900 5,950 6,000 6,050 6,100 6,150 6,200 6,250 6,300 6,350 6,400 6,450 6,500 6,550 6,600 6,650 6,700 6,750 6,800 6,850 6,900 6,950 7,000 7,050 7,100 7,150 7,200 7,250 7,300 7,350 7,400 7,450 7,500 7,550 7,600 7,650 7,700 7,750 7,800 7,850 7,900 7,950 8,000 8,050 8,100 8,150 8,200 8,250 8,300 8,350 8,400 8,450 8,500 8,550 8,600 8,650 8,700 8,750 8,800 8,850 8,900 8,950 9,000 9,050 9,100 9,150 9,200 9,250 9,300 9,350 9,400 9,450 9,500 9,550 9,600 If line 42 of form IA1040 is: Over 13,400 13,450 13,500 13,550 13,600 13,650 13,700 13,750 13,800 13,850 13,900 13,950 14,000 14,050 14,100 14,150 14,200 14,250 14,300 14,350 14,400 14,450 14,500 14,550 14,600 14,650 14,700 14,750 14,800 14,850 14,900 14,950 15,000 15,050 15,100 15,150 15,200 15,250 15,300 15,350 15,400 15,450 15,500 15,550 15,600 15,650 15,700 15,750 15,800 15,850 15,900 15,950 16,000 16,050 16,100 16,150 16,200 16,250 16,300 16,350 16,400 16,450 16,500 16,550 16,600 16,650 16,700 16,750 16,800 16,850 16,900 16,950 17,000 17,050 17,100 17,150 But Not Over 13,450 13,500 13,550 13,600 13,650 13,700 13,750 13,800 13,850 13,900 13,950 14,000 14,050 14,100 14,150 14,200 14,250 14,300 14,350 14,400 14,450 14,500 14,550 14,600 14,650 14,700 14,750 14,800 14,850 14,900 14,950 15,000 15,050 15,100 15,150 15,200 15,250 15,300 15,350 15,400 15,450 15,500 15,550 15,600 15,650 15,700 15,750 15,800 15,850 15,900 15,950 16,000 16,050 16,100 16,150 16,200 16,250 16,300 16,350 16,400 16,450 16,500 16,550 16,600 16,650 16,700 16,750 16,800 16,850 16,900 16,950 17,000 17,050 17,100 17,150 17,200 Your Tax Is 454 457 460 463 466 470 473 476 479 482 485 488 491 494 497 500 503 506 509 512 515 519 522 525 528 531 534 537 540 543 546 549 552 555 558 561 564 567 571 574 577 580 583 586 589 592 595 598 601 604 607 610 613 616 619 623 626 629 632 635 638 641 644 647 650 653 656 659 662 665 668 672 675 678 681 684 If line 42 of form IA1040 is: Over 17,200 17,250 17,300 17,350 17,400 17,450 17,500 17,550 17,600 17,650 17,700 17,750 17,800 17,850 17,900 17,950 18,000 18,050 18,100 18,150 18,200 18,250 18,300 18,350 18,400 18,450 18,500 18,550 18,600 18,650 18,700 18,750 18,800 18,850 18,900 18,950 19,000 19,050 19,100 19,150 19,200 19,250 19,300 19,350 19,400 19,450 19,500 19,550 19,600 19,650 19,700 19,750 19,800 19,850 19,900 19,950 20,000 20,050 20,100 20,150 20,200 20,250 20,300 20,350 20,400 20,450 20,500 20,550 20,600 20,650 20,700 20,750 20,800 20,850 20,900 20,950 But Not Over 17,250 17,300 17,350 17,400 17,450 17,500 17,550 17,600 17,650 17,700 17,750 17,800 17,850 17,900 17,950 18,000 18,050 18,100 18,150 18,200 18,250 18,300 18,350 18,400 18,450 18,500 18,550 18,600 18,650 18,700 18,750 18,800 18,850 18,900 18,950 19,000 19,050 19,100 19,150 19,200 19,250 19,300 19,350 19,400 19,450 19,500 19,550 19,600 19,650 19,700 19,750 19,800 19,850 19,900 19,950 20,000 20,050 20,100 20,150 20,200 20,250 20,300 20,350 20,400 20,450 20,500 20,550 20,600 20,650 20,700 20,750 20,800 20,850 20,900 20,950 21,000 Your Tax Is 687 690 693 696 699 702 705 708 711 714 717 720 724 727 730 733 736 739 742 745 748 751 754 757 760 763 766 769 772 776 779 782 785 788 791 794 797 800 803 806 809 812 815 818 821 825 828 831 834 837 840 843 846 849 852 855 858 861 864 867 870 873 877 880 883 886 889 892 895 898 901 904 908 911 914 917 11 Expanded Instructions are at www.state.ia.us/tax
Slide 15: To find your tax: Read down the left column until you find the range for your Iowa taxable income from line 42 on form IA1040. Read across to the column marked “Your Tax Is.” Enter the amount on line 43. 2008 IA1040 TAX TABLES For All Filing Statuses If line 42 of form IA1040 is: Your Tax Is 1,167 1,170 1,173 1,177 1,180 1,183 1,186 1,190 1,193 1,196 1,199 1,202 1,206 1,209 1,212 1,215 1,219 1,222 1,225 1,228 1,232 1,235 1,238 1,241 1,245 1,248 1,251 1,254 1,258 1,261 1,264 1,267 1,271 1,274 1,277 1,280 1,283 1,287 1,290 1,293 1,296 1,300 1,303 1,306 1,309 1,313 1,316 1,319 1,322 1,326 1,329 1,332 1,335 1,339 1,342 1,345 1,348 1,352 1,355 1,359 1,362 1,365 1,369 1,372 1,376 1,379 1,382 1,386 1,389 1,393 1,396 1,399 1,403 1,406 1,410 1,413 Over 28,600 28,650 28,700 28,750 28,800 28,850 28,900 28,950 29,000 29,050 29,100 29,150 29,200 29,250 29,300 29,350 29,400 29,450 29,500 29,550 29,600 29,650 29,700 29,750 29,800 29,850 29,900 29,950 30,000 30,050 30,100 30,150 30,200 30,250 30,300 30,350 30,400 30,450 30,500 30,550 30,600 30,650 30,700 30,750 30,800 30,850 30,900 30,950 31,000 31,050 31,100 31,150 31,200 31,250 31,300 31,350 31,400 31,450 31,500 31,550 31,600 31,650 31,700 31,750 31,800 31,850 31,900 31,950 32,000 32,050 32,100 32,150 32,200 32,250 32,300 32,350 But Not Over 28,650 28,700 28,750 28,800 28,850 28,900 28,950 29,000 29,050 29,100 29,150 29,200 29,250 29,300 29,350 29,400 29,450 29,500 29,550 29,600 29,650 29,700 29,750 29,800 29,850 29,900 29,950 30,000 30,050 30,100 30,150 30,200 30,250 30,300 30,350 30,400 30,450 30,500 30,550 30,600 30,650 30,700 30,750 30,800 30,850 30,900 30,950 31,000 31,050 31,100 31,150 31,200 31,250 31,300 31,350 31,400 31,450 31,500 31,550 31,600 31,650 31,700 31,750 31,800 31,850 31,900 31,950 32,000 32,050 32,100 32,150 32,200 32,250 32,300 32,350 32,400 Your Tax Is 1,416 1,420 1,423 1,427 1,430 1,433 1,437 1,440 1,444 1,447 1,450 1,454 1,457 1,461 1,464 1,467 1,471 1,474 1,478 1,481 1,484 1,488 1,491 1,495 1,498 1,501 1,505 1,508 1,512 1,515 1,518 1,522 1,525 1,529 1,532 1,535 1,539 1,542 1,546 1,549 1,552 1,556 1,559 1,563 1,566 1,569 1,573 1,576 1,580 1,583 1,586 1,590 1,593 1,597 1,600 1,603 1,607 1,610 1,614 1,617 1,620 1,624 1,627 1,631 1,634 1,637 1,641 1,644 1,648 1,651 1,654 1,658 1,661 1,665 1,668 1,671 If line 42 of form IA1040 is: Over 21,000 21,050 21,100 21,150 21,200 21,250 21,300 21,350 21,400 21,450 21,500 21,550 21,600 21,650 21,700 21,750 21,800 21,850 21,900 21,950 22,000 22,050 22,100 22,150 22,200 22,250 22,300 22,350 22,400 22,450 22,500 22,550 22,600 22,650 22,700 22,750 22,800 22,850 22,900 22,950 23,000 23,050 23,100 23,150 23,200 23,250 23,300 23,350 23,400 23,450 23,500 23,550 23,600 23,650 23,700 23,750 23,800 23,850 23,900 23,950 24,000 24,050 24,100 24,150 24,200 24,250 24,300 24,350 24,400 24,450 24,500 24,550 24,600 24,650 24,700 24,750 But Not Over 21,050 21,100 21,150 21,200 21,250 21,300 21,350 21,400 21,450 21,500 21,550 21,600 21,650 21,700 21,750 21,800 21,850 21,900 21,950 22,000 22,050 22,100 22,150 22,200 22,250 22,300 22,350 22,400 22,450 22,500 22,550 22,600 22,650 22,700 22,750 22,800 22,850 22,900 22,950 23,000 23,050 23,100 23,150 23,200 23,250 23,300 23,350 23,400 23,450 23,500 23,550 23,600 23,650 23,700 23,750 23,800 23,850 23,900 23,950 24,000 24,050 24,100 24,150 24,200 24,250 24,300 24,350 24,400 24,450 24,500 24,550 24,600 24,650 24,700 24,750 24,800 Your Tax Is 921 924 927 930 934 937 940 943 947 950 953 956 959 963 966 969 972 976 979 982 985 989 992 995 998 1,002 1,005 1,008 1,011 1,015 1,018 1,021 1,024 1,028 1,031 1,034 1,037 1,040 1,044 1,047 1,050 1,053 1,057 1,060 1,063 1,066 1,070 1,073 1,076 1,079 1,083 1,086 1,089 1,092 1,096 1,099 1,102 1,105 1,109 1,112 1,115 1,118 1,121 1,125 1,128 1,131 1,134 1,138 1,141 1,144 1,147 1,151 1,154 1,157 1,160 1,164 If line 42 of form IA1040 is: Over 24,800 24,850 24,900 24,950 25,000 25,050 25,100 25,150 25,200 25,250 25,300 25,350 25,400 25,450 25,500 25,550 25,600 25,650 25,700 25,750 25,800 25,850 25,900 25,950 26,000 26,050 26,100 26,150 26,200 26,250 26,300 26,350 26,400 26,450 26,500 26,550 26,600 26,650 26,700 26,750 26,800 26,850 26,900 26,950 27,000 27,050 27,100 27,150 27,200 27,250 27,300 27,350 27,400 27,450 27,500 27,550 27,600 27,650 27,700 27,750 27,800 27,850 27,900 27,950 28,000 28,050 28,100 28,150 28,200 28,250 28,300 28,350 28,400 28,450 28,500 28,550 But Not Over 24,850 24,900 24,950 25,000 25,050 25,100 25,150 25,200 25,250 25,300 25,350 25,400 25,450 25,500 25,550 25,600 25,650 25,700 25,750 25,800 25,850 25,900 25,950 26,000 26,050 26,100 26,150 26,200 26,250 26,300 26,350 26,400 26,450 26,500 26,550 26,600 26,650 26,700 26,750 26,800 26,850 26,900 26,950 27,000 27,050 27,100 27,150 27,200 27,250 27,300 27,350 27,400 27,450 27,500 27,550 27,600 27,650 27,700 27,750 27,800 27,850 27,900 27,950 28,000 28,050 28,100 28,150 28,200 28,250 28,300 28,350 28,400 28,450 28,500 28,550 28,600 If line 42 of form IA1040 is: Over 32,400 32,450 32,500 32,550 32,600 32,650 32,700 32,750 32,800 32,850 32,900 32,950 33,000 33,050 33,100 33,150 33,200 33,250 33,300 33,350 33,400 33,450 33,500 33,550 33,600 33,650 33,700 33,750 33,800 33,850 33,900 33,950 34,000 34,050 34,100 34,150 34,200 34,250 34,300 34,350 34,400 34,450 34,500 34,550 34,600 34,650 34,700 34,750 34,800 34,850 34,900 34,950 35,000 35,050 35,100 35,150 35,200 35,250 35,300 35,350 35,400 35,450 35,500 35,550 35,600 35,650 35,700 35,750 35,800 35,850 35,900 35,950 36,000 36,050 36,100 36,150 But Not Over 32,450 32,500 32,550 32,600 32,650 32,700 32,750 32,800 32,850 32,900 32,950 33,000 33,050 33,100 33,150 33,200 33,250 33,300 33,350 33,400 33,450 33,500 33,550 33,600 33,650 33,700 33,750 33,800 33,850 33,900 33,950 34,000 34,050 34,100 34,150 34,200 34,250 34,300 34,350 34,400 34,450 34,500 34,550 34,600 34,650 34,700 34,750 34,800 34,850 34,900 34,950 35,000 35,050 35,100 35,150 35,200 35,250 35,300 35,350 35,400 35,450 35,500 35,550 35,600 35,650 35,700 35,750 35,800 35,850 35,900 35,950 36,000 36,050 36,100 36,150 36,200 Your Tax Is 1,675 1,678 1,682 1,685 1,688 1,692 1,695 1,699 1,702 1,705 1,709 1,712 1,716 1,719 1,722 1,726 1,729 1,733 1,736 1,739 1,743 1,746 1,750 1,753 1,756 1,760 1,763 1,767 1,770 1,773 1,777 1,780 1,784 1,787 1,790 1,794 1,797 1,801 1,804 1,807 1,811 1,814 1,818 1,821 1,824 1,828 1,831 1,835 1,838 1,841 1,845 1,848 1,852 1,855 1,858 1,862 1,865 1,869 1,872 1,875 1,879 1,882 1,886 1,889 1,892 1,896 1,899 1,903 1,906 1,909 1,913 1,916 1,920 1,923 1,926 1,930 If line 42 of form IA1040 is: Over 36,200 36,250 36,300 36,350 36,400 36,450 36,500 36,550 36,600 36,650 36,700 36,750 36,800 36,850 36,900 36,950 37,000 37,050 37,100 37,150 37,200 37,250 37,300 37,350 37,400 37,450 37,500 37,550 37,600 37,650 37,700 37,750 37,800 37,850 37,900 37,950 38,000 38,050 38,100 38,150 38,200 38,250 38,300 38,350 38,400 38,450 38,500 38,550 38,600 38,650 38,700 38,750 38,800 38,850 38,900 38,950 39,000 39,050 39,100 39,150 39,200 39,250 39,300 39,350 39,400 39,450 39,500 39,550 39,600 39,650 39,700 39,750 39,800 39,850 39,900 39,950 But Not Over 36,250 36,300 36,350 36,400 36,450 36,500 36,550 36,600 36,650 36,700 36,750 36,800 36,850 36,900 36,950 37,000 37,050 37,100 37,150 37,200 37,250 37,300 37,350 37,400 37,450 37,500 37,550 37,600 37,650 37,700 37,750 37,800 37,850 37,900 37,950 38,000 38,050 38,100 38,150 38,200 38,250 38,300 38,350 38,400 38,450 38,500 38,550 38,600 38,650 38,700 38,750 38,800 38,850 38,900 38,950 39,000 39,050 39,100 39,150 39,200 39,250 39,300 39,350 39,400 39,450 39,500 39,550 39,600 39,650 39,700 39,750 39,800 39,850 39,900 39,950 40,000 Your Tax Is 1,933 1,937 1,940 1,943 1,947 1,950 1,954 1,957 1,960 1,964 1,967 1,971 1,974 1,977 1,981 1,984 1,988 1,991 1,994 1,998 2,001 2,005 2,008 2,011 2,015 2,018 2,022 2,025 2,028 2,032 2,035 2,039 2,042 2,045 2,049 2,052 2,056 2,059 2,062 2,066 2,069 2,073 2,076 2,079 2,083 2,086 2,090 2,093 2,096 2,100 2,103 2,107 2,110 2,113 2,117 2,120 2,124 2,127 2,130 2,134 2,137 2,141 2,144 2,147 2,151 2,154 2,158 2,161 2,164 2,168 2,171 2,175 2,178 2,181 2,185 2,188 12 Expanded Instructions are at www.state.ia.us/tax
Slide 16: To find your tax: Read down the left column until you find the range for your Iowa taxable income from line 42 on form IA1040. Read across to the column marked “Your Tax Is.” Enter the amount on line 43. 2008 IA1040 TAX TABLES For All Filing Statuses If line 42 of form IA1040 is: Your Tax Is 2,478 2,481 2,485 2,489 2,493 2,497 2,501 2,505 2,509 2,513 2,517 2,521 2,525 2,529 2,533 2,537 2,541 2,545 2,549 2,553 2,557 2,561 2,565 2,569 2,573 2,577 2,580 2,584 2,588 2,592 2,596 2,600 2,604 2,608 2,612 2,616 2,620 2,624 2,628 2,632 2,636 2,640 2,644 2,648 2,652 2,656 2,660 2,664 2,668 2,672 2,676 2,679 2,683 2,687 2,691 2,695 2,699 2,703 2,707 2,711 2,715 2,719 2,723 2,727 2,731 2,735 2,739 2,743 2,747 2,751 2,755 2,759 2,763 2,767 2,771 2,775 Over 47,600 47,650 47,700 47,750 47,800 47,850 47,900 47,950 48,000 48,050 48,100 48,150 48,200 48,250 48,300 48,350 48,400 48,450 48,500 48,550 48,600 48,650 48,700 48,750 48,800 48,850 48,900 48,950 49,000 49,050 49,100 49,150 49,200 49,250 49,300 49,350 49,400 49,450 49,500 49,550 49,600 49,650 49,700 49,750 49,800 49,850 49,900 49,950 50,000 50,050 50,100 50,150 50,200 50,250 50,300 50,350 50,400 50,450 50,500 50,550 50,600 50,650 50,700 50,750 50,800 50,850 50,900 50,950 51,000 51,050 51,100 51,150 51,200 51,250 51,300 51,350 But Not Over 47,650 47,700 47,750 47,800 47,850 47,900 47,950 48,000 48,050 48,100 48,150 48,200 48,250 48,300 48,350 48,400 48,450 48,500 48,550 48,600 48,650 48,700 48,750 48,800 48,850 48,900 48,950 49,000 49,050 49,100 49,150 49,200 49,250 49,300 49,350 49,400 49,450 49,500 49,550 49,600 49,650 49,700 49,750 49,800 49,850 49,900 49,950 50,000 50,050 50,100 50,150 50,200 50,250 50,300 50,350 50,400 50,450 50,500 50,550 50,600 50,650 50,700 50,750 50,800 50,850 50,900 50,950 51,000 51,050 51,100 51,150 51,200 51,250 51,300 51,350 51,400 Your Tax Is 2,778 2,782 2,786 2,790 2,794 2,798 2,802 2,806 2,810 2,814 2,818 2,822 2,826 2,830 2,834 2,838 2,842 2,846 2,850 2,854 2,858 2,862 2,866 2,870 2,874 2,877 2,881 2,885 2,889 2,893 2,897 2,901 2,905 2,909 2,913 2,917 2,921 2,925 2,929 2,933 2,937 2,941 2,945 2,949 2,953 2,957 2,961 2,965 2,969 2,973 2,976 2,980 2,984 2,988 2,992 2,996 3,000 3,004 3,008 3,012 3,016 3,020 3,024 3,028 3,032 3,036 3,040 3,044 3,048 3,052 3,056 3,060 3,064 3,068 3,072 3,075 If line 42 of form IA1040 is: Over 40,000 40,050 40,100 40,150 40,200 40,250 40,300 40,350 40,400 40,450 40,500 40,550 40,600 40,650 40,700 40,750 40,800 40,850 40,900 40,950 41,000 41,050 41,100 41,150 41,200 41,250 41,300 41,350 41,400 41,450 41,500 41,550 41,600 41,650 41,700 41,750 41,800 41,850 41,900 41,950 42,000 42,050 42,100 42,150 42,200 42,250 42,300 42,350 42,400 42,450 42,500 42,550 42,600 42,650 42,700 42,750 42,800 42,850 42,900 42,950 43,000 43,050 43,100 43,150 43,200 43,250 43,300 43,350 43,400 43,450 43,500 43,550 43,600 43,650 43,700 43,750 But Not Over 40,050 40,100 40,150 40,200 40,250 40,300 40,350 40,400 40,450 40,500 40,550 40,600 40,650 40,700 40,750 40,800 40,850 40,900 40,950 41,000 41,050 41,100 41,150 41,200 41,250 41,300 41,350 41,400 41,450 41,500 41,550 41,600 41,650 41,700 41,750 41,800 41,850 41,900 41,950 42,000 42,050 42,100 42,150 42,200 42,250 42,300 42,350 42,400 42,450 42,500 42,550 42,600 42,650 42,700 42,750 42,800 42,850 42,900 42,950 43,000 43,050 43,100 43,150 43,200 43,250 43,300 43,350 43,400 43,450 43,500 43,550 43,600 43,650 43,700 43,750 43,800 Your Tax Is 2,192 2,195 2,198 2,202 2,205 2,209 2,212 2,215 2,219 2,222 2,226 2,229 2,232 2,236 2,239 2,243 2,246 2,249 2,253 2,256 2,260 2,263 2,266 2,270 2,273 2,277 2,280 2,283 2,287 2,291 2,295 2,299 2,303 2,307 2,311 2,315 2,319 2,323 2,327 2,331 2,335 2,339 2,343 2,347 2,351 2,355 2,359 2,363 2,367 2,371 2,375 2,379 2,382 2,386 2,390 2,394 2,398 2,402 2,406 2,410 2,414 2,418 2,422 2,426 2,430 2,434 2,438 2,442 2,446 2,450 2,454 2,458 2,462 2,466 2,470 2,474 If line 42 of form IA1040 is: Over 43,800 43,850 43,900 43,950 44,000 44,050 44,100 44,150 44,200 44,250 44,300 44,350 44,400 44,450 44,500 44,550 44,600 44,650 44,700 44,750 44,800 44,850 44,900 44,950 45,000 45,050 45,100 45,150 45,200 45,250 45,300 45,350 45,400 45,450 45,500 45,550 45,600 45,650 45,700 45,750 45,800 45,850 45,900 45,950 46,000 46,050 46,100 46,150 46,200 46,250 46,300 46,350 46,400 46,450 46,500 46,550 46,600 46,650 46,700 46,750 46,800 46,850 46,900 46,950 47,000 47,050 47,100 47,150 47,200 47,250 47,300 47,350 47,400 47,450 47,500 47,550 But Not Over 43,850 43,900 43,950 44,000 44,050 44,100 44,150 44,200 44,250 44,300 44,350 44,400 44,450 44,500 44,550 44,600 44,650 44,700 44,750 44,800 44,850 44,900 44,950 45,000 45,050 45,100 45,150 45,200 45,250 45,300 45,350 45,400 45,450 45,500 45,550 45,600 45,650 45,700 45,750 45,800 45,850 45,900 45,950 46,000 46,050 46,100 46,150 46,200 46,250 46,300 46,350 46,400 46,450 46,500 46,550 46,600 46,650 46,700 46,750 46,800 46,850 46,900 46,950 47,000 47,050 47,100 47,150 47,200 47,250 47,300 47,350 47,400 47,450 47,500 47,550 47,600 If line 42 of form IA1040 is: Over 51,400 51,450 51,500 51,550 51,600 51,650 51,700 51,750 51,800 51,850 51,900 51,950 52,000 52,050 52,100 52,150 52,200 52,250 52,300 52,350 52,400 52,450 52,500 52,550 52,600 52,650 52,700 52,750 52,800 52,850 52,900 52,950 53,000 53,050 53,100 53,150 53,200 53,250 53,300 53,350 53,400 53,450 53,500 53,550 53,600 53,650 53,700 53,750 53,800 53,850 53,900 53,950 54,000 54,050 54,100 54,150 54,200 54,250 54,300 54,350 54,400 54,450 54,500 54,550 54,600 54,650 54,700 54,750 54,800 54,850 54,900 54,950 55,000 55,050 55,100 55,150 But Not Over 51,450 51,500 51,550 51,600 51,650 51,700 51,750 51,800 51,850 51,900 51,950 52,000 52,050 52,100 52,150 52,200 52,250 52,300 52,350 52,400 52,450 52,500 52,550 52,600 52,650 52,700 52,750 52,800 52,850 52,900 52,950 53,000 53,050 53,100 53,150 53,200 53,250 53,300 53,350 53,400 53,450 53,500 53,550 53,600 53,650 53,700 53,750 53,800 53,850 53,900 53,950 54,000 54,050 54,100 54,150 54,200 54,250 54,300 54,350 54,400 54,450 54,500 54,550 54,600 54,650 54,700 54,750 54,800 54,850 54,900 54,950 55,000 55,050 55,100 55,150 55,200 Your Tax Is 3,079 3,083 3,087 3,091 3,095 3,099 3,103 3,107 3,111 3,115 3,119 3,123 3,127 3,131 3,135 3,139 3,143 3,147 3,151 3,155 3,159 3,163 3,167 3,171 3,174 3,178 3,182 3,186 3,190 3,194 3,198 3,202 3,206 3,210 3,214 3,218 3,222 3,226 3,230 3,234 3,238 3,242 3,246 3,250 3,254 3,258 3,262 3,266 3,270 3,273 3,277 3,281 3,285 3,289 3,293 3,297 3,301 3,305 3,309 3,313 3,317 3,321 3,325 3,329 3,333 3,337 3,341 3,345 3,349 3,353 3,357 3,361 3,365 3,369 3,372 3,376 If line 42 of form IA1040 is: Over 55,200 55,250 55,300 55,350 55,400 55,450 55,500 55,550 55,600 55,650 55,700 55,750 55,800 55,850 55,900 55,950 56,000 56,050 56,100 56,150 56,200 56,250 56,300 56,350 56,400 56,450 56,500 56,550 56,600 56,650 56,700 56,750 56,800 56,850 56,900 56,950 57,000 57,050 57,100 57,150 57,200 57,250 57,300 57,350 57,400 57,450 57,500 57,550 57,600 57,650 57,700 57,750 57,800 57,850 57,900 57,950 58,000 58,050 58,100 58,150 58,200 58,250 58,300 58,350 58,400 58,450 58,500 58,550 58,600 58,650 58,700 58,750 58,800 58,850 58,900 58,950 But Not Over 55,250 55,300 55,350 55,400 55,450 55,500 55,550 55,600 55,650 55,700 55,750 55,800 55,850 55,900 55,950 56,000 56,050 56,100 56,150 56,200 56,250 56,300 56,350 56,400 56,450 56,500 56,550 56,600 56,650 56,700 56,750 56,800 56,850 56,900 56,950 57,000 57,050 57,100 57,150 57,200 57,250 57,300 57,350 57,400 57,450 57,500 57,550 57,600 57,650 57,700 57,750 57,800 57,850 57,900 57,950 58,000 58,050 58,100 58,150 58,200 58,250 58,300 58,350 58,400 58,450 58,500 58,550 58,600 58,650 58,700 58,750 58,800 58,850 58,900 58,950 59,000 Your Tax Is 3,380 3,384 3,388 3,392 3,396 3,400 3,404 3,408 3,412 3,416 3,420 3,424 3,428 3,432 3,436 3,440 3,444 3,448 3,452 3,456 3,460 3,464 3,468 3,471 3,475 3,479 3,483 3,487 3,491 3,495 3,499 3,503 3,507 3,511 3,515 3,519 3,523 3,527 3,531 3,535 3,539 3,543 3,547 3,551 3,555 3,559 3,563 3,567 3,570 3,574 3,578 3,582 3,586 3,590 3,594 3,598 3,602 3,606 3,610 3,614 3,618 3,622 3,626 3,630 3,634 3,638 3,642 3,646 3,650 3,654 3,658 3,662 3,666 3,669 3,673 3,677 13 Expanded Instructions are at www.state.ia.us/tax
Slide 17: To find your tax: Read down the left column until you find the range for your Iowa taxable income from line 42 on form IA1040. Read across to the column marked “Your Tax Is.” Enter the amount on line 43. 2008 IA1040 TAX TABLES For All Filing Statuses If line 42 of form IA1040 is: Your Tax Is 3,990 3,995 3,999 4,004 4,008 4,013 4,017 4,022 4,026 4,031 4,035 4,040 4,044 4,049 4,053 4,058 4,062 4,067 4,071 4,076 4,080 4,085 4,089 4,094 4,098 4,103 4,107 4,112 4,116 4,121 4,125 4,130 4,134 4,139 4,143 4,148 4,152 4,157 4,161 4,166 4,170 4,175 4,179 4,184 4,188 4,193 4,197 4,202 4,206 4,210 4,215 4,219 4,224 4,228 4,233 4,237 4,242 4,246 4,251 4,255 4,260 4,264 4,269 4,273 4,278 4,282 4,287 4,291 4,296 4,300 4,305 4,309 4,314 4,318 4,323 4,327 Over 66,600 66,650 66,700 66,750 66,800 66,850 66,900 66,950 67,000 67,050 67,100 67,150 67,200 67,250 67,300 67,350 67,400 67,450 67,500 67,550 67,600 67,650 67,700 67,750 67,800 67,850 67,900 67,950 68,000 68,050 68,100 68,150 68,200 68,250 68,300 68,350 68,400 68,450 68,500 68,550 68,600 68,650 68,700 68,750 68,800 68,850 68,900 68,950 69,000 69,050 69,100 69,150 69,200 69,250 69,300 69,350 69,400 69,450 69,500 69,550 69,600 69,650 69,700 69,750 69,800 69,850 69,900 69,950 70,000 70,050 70,100 70,150 70,200 70,250 70,300 70,350 But Not Over 66,650 66,700 66,750 66,800 66,850 66,900 66,950 67,000 67,050 67,100 67,150 67,200 67,250 67,300 67,350 67,400 67,450 67,500 67,550 67,600 67,650 67,700 67,750 67,800 67,850 67,900 67,950 68,000 68,050 68,100 68,150 68,200 68,250 68,300 68,350 68,400 68,450 68,500 68,550 68,600 68,650 68,700 68,750 68,800 68,850 68,900 68,950 69,000 69,050 69,100 69,150 69,200 69,250 69,300 69,350 69,400 69,450 69,500 69,550 69,600 69,650 69,700 69,750 69,800 69,850 69,900 69,950 70,000 70,050 70,100 70,150 70,200 70,250 70,300 70,350 70,400 Your Tax Is 4,332 4,336 4,341 4,345 4,350 4,354 4,359 4,363 4,368 4,372 4,377 4,381 4,386 4,390 4,395 4,399 4,404 4,408 4,413 4,417 4,422 4,426 4,430 4,435 4,439 4,444 4,448 4,453 4,457 4,462 4,466 4,471 4,475 4,480 4,484 4,489 4,493 4,498 4,502 4,507 4,511 4,516 4,520 4,525 4,529 4,534 4,538 4,543 4,547 4,552 4,556 4,561 4,565 4,570 4,574 4,579 4,583 4,588 4,592 4,597 4,601 4,606 4,610 4,615 4,619 4,624 4,628 4,633 4,637 4,642 4,646 4,651 4,655 4,659 4,664 4,668 If line 42 of form IA1040 is: Over 59,000 59,050 59,100 59,150 59,200 59,250 59,300 59,350 59,400 59,450 59,500 59,550 59,600 59,650 59,700 59,750 59,800 59,850 59,900 59,950 60,000 60,050 60,100 60,150 60,200 60,250 60,300 60,350 60,400 60,450 60,500 60,550 60,600 60,650 60,700 60,750 60,800 60,850 60,900 60,950 61,000 61,050 61,100 61,150 61,200 61,250 61,300 61,350 61,400 61,450 61,500 61,550 61,600 61,650 61,700 61,750 61,800 61,850 61,900 61,950 62,000 62,050 62,100 62,150 62,200 62,250 62,300 62,350 62,400 62,450 62,500 62,550 62,600 62,650 62,700 62,750 But Not Over 59,050 59,100 59,150 59,200 59,250 59,300 59,350 59,400 59,450 59,500 59,550 59,600 59,650 59,700 59,750 59,800 59,850 59,900 59,950 60,000 60,050 60,100 60,150 60,200 60,250 60,300 60,350 60,400 60,450 60,500 60,550 60,600 60,650 60,700 60,750 60,800 60,850 60,900 60,950 61,000 61,050 61,100 61,150 61,200 61,250 61,300 61,350 61,400 61,450 61,500 61,550 61,600 61,650 61,700 61,750 61,800 61,850 61,900 61,950 62,000 62,050 62,100 62,150 62,200 62,250 62,300 62,350 62,400 62,450 62,500 62,550 62,600 62,650 62,700 62,750 62,800 Your Tax Is 3,681 3,685 3,689 3,693 3,697 3,701 3,705 3,709 3,713 3,717 3,721 3,725 3,729 3,733 3,737 3,741 3,745 3,749 3,753 3,757 3,761 3,765 3,768 3,772 3,776 3,780 3,784 3,788 3,792 3,796 3,800 3,804 3,808 3,812 3,816 3,820 3,824 3,828 3,832 3,836 3,840 3,844 3,848 3,852 3,856 3,860 3,864 3,867 3,871 3,875 3,879 3,883 3,887 3,891 3,895 3,899 3,903 3,907 3,911 3,915 3,919 3,923 3,928 3,932 3,937 3,941 3,946 3,950 3,955 3,959 3,964 3,968 3,973 3,977 3,981 3,986 If line 42 of form IA1040 is: Over 62,800 62,850 62,900 62,950 63,000 63,050 63,100 63,150 63,200 63,250 63,300 63,350 63,400 63,450 63,500 63,550 63,600 63,650 63,700 63,750 63,800 63,850 63,900 63,950 64,000 64,050 64,100 64,150 64,200 64,250 64,300 64,350 64,400 64,450 64,500 64,550 64,600 64,650 64,700 64,750 64,800 64,850 64,900 64,950 65,000 65,050 65,100 65,150 65,200 65,250 65,300 65,350 65,400 65,450 65,500 65,550 65,600 65,650 65,700 65,750 65,800 65,850 65,900 65,950 66,000 66,050 66,100 66,150 66,200 66,250 66,300 66,350 66,400 66,450 66,500 66,550 But Not Over 62,850 62,900 62,950 63,000 63,050 63,100 63,150 63,200 63,250 63,300 63,350 63,400 63,450 63,500 63,550 63,600 63,650 63,700 63,750 63,800 63,850 63,900 63,950 64,000 64,050 64,100 64,150 64,200 64,250 64,300 64,350 64,400 64,450 64,500 64,550 64,600 64,650 64,700 64,750 64,800 64,850 64,900 64,950 65,000 65,050 65,100 65,150 65,200 65,250 65,300 65,350 65,400 65,450 65,500 65,550 65,600 65,650 65,700 65,750 65,800 65,850 65,900 65,950 66,000 66,050 66,100 66,150 66,200 66,250 66,300 66,350 66,400 66,450 66,500 66,550 66,600 If line 42 of form IA1040 is: Over 70,400 70,450 70,500 70,550 70,600 70,650 70,700 70,750 70,800 70,850 70,900 70,950 71,000 71,050 71,100 71,150 71,200 71,250 71,300 71,350 71,400 71,450 71,500 71,550 71,600 71,650 71,700 71,750 71,800 71,850 71,900 71,950 72,000 72,050 72,100 72,150 72,200 72,250 72,300 72,350 72,400 72,450 72,500 72,550 72,600 72,650 72,700 72,750 72,800 72,850 72,900 72,950 73,000 73,050 73,100 73,150 73,200 73,250 73,300 73,350 73,400 73,450 73,500 73,550 73,600 73,650 73,700 73,750 73,800 73,850 73,900 73,950 74,000 74,050 74,100 74,150 But Not Over 70,450 70,500 70,550 70,600 70,650 70,700 70,750 70,800 70,850 70,900 70,950 71,000 71,050 71,100 71,150 71,200 71,250 71,300 71,350 71,400 71,450 71,500 71,550 71,600 71,650 71,700 71,750 71,800 71,850 71,900 71,950 72,000 72,050 72,100 72,150 72,200 72,250 72,300 72,350 72,400 72,450 72,500 72,550 72,600 72,650 72,700 72,750 72,800 72,850 72,900 72,950 73,000 73,050 73,100 73,150 73,200 73,250 73,300 73,350 73,400 73,450 73,500 73,550 73,600 73,650 73,700 73,750 73,800 73,850 73,900 73,950 74,000 74,050 74,100 74,150 74,200 Your Tax Is 4,673 4,677 4,682 4,686 4,691 4,695 4,700 4,704 4,709 4,713 4,718 4,722 4,727 4,731 4,736 4,740 4,745 4,749 4,754 4,758 4,763 4,767 4,772 4,776 4,781 4,785 4,790 4,794 4,799 4,803 4,808 4,812 4,817 4,821 4,826 4,830 4,835 4,839 4,844 4,848 4,853 4,857 4,862 4,866 4,871 4,875 4,879 4,884 4,888 4,893 4,897 4,902 4,906 4,911 4,915 4,920 4,924 4,929 4,933 4,938 4,942 4,947 4,951 4,956 4,960 4,965 4,969 4,974 4,978 4,983 4,987 4,992 4,996 5,001 5,005 5,010 If line 42 of form IA1040 is: Over 74,200 74,250 74,300 74,350 74,400 74,450 74,500 74,550 74,600 74,650 74,700 74,750 74,800 74,850 74,900 74,950 75,000 75,050 75,100 75,150 75,200 75,250 75,300 75,350 75,400 75,450 75,500 75,550 75,600 75,650 75,700 75,750 75,800 75,850 75,900 75,950 76,000 76,050 76,100 76,150 76,200 76,250 76,300 76,350 76,400 76,450 76,500 76,550 76,600 76,650 76,700 76,750 76,800 76,850 76,900 76,950 77,000 77,050 77,100 77,150 77,200 77,250 77,300 77,350 77,400 77,450 77,500 77,550 77,600 77,650 77,700 77,750 77,800 77,850 77,900 77,950 But Not Over 74,250 74,300 74,350 74,400 74,450 74,500 74,550 74,600 74,650 74,700 74,750 74,800 74,850 74,900 74,950 75,000 75,050 75,100 75,150 75,200 75,250 75,300 75,350 75,400 75,450 75,500 75,550 75,600 75,650 75,700 75,750 75,800 75,850 75,900 75,950 76,000 76,050 76,100 76,150 76,200 76,250 76,300 76,350 76,400 76,450 76,500 76,550 76,600 76,650 76,700 76,750 76,800 76,850 76,900 76,950 77,000 77,050 77,100 77,150 77,200 77,250 77,300 77,350 77,400 77,450 77,500 77,550 77,600 77,650 77,700 77,750 77,800 77,850 77,900 77,950 78,000 Your Tax Is 5,014 5,019 5,023 5,028 5,032 5,037 5,041 5,046 5,050 5,055 5,059 5,064 5,068 5,073 5,077 5,082 5,086 5,091 5,095 5,100 5,104 5,108 5,113 5,117 5,122 5,126 5,131 5,135 5,140 5,144 5,149 5,153 5,158 5,162 5,167 5,171 5,176 5,180 5,185 5,189 5,194 5,198 5,203 5,207 5,212 5,216 5,221 5,225 5,230 5,234 5,239 5,243 5,248 5,252 5,257 5,261 5,266 5,270 5,275 5,279 5,284 5,288 5,293 5,297 5,302 5,306 5,311 5,315 5,320 5,324 5,328 5,333 5,337 5,342 5,346 5,351 14 Expanded Instructions are at www.state.ia.us/tax
Slide 18: To find your tax: Read down the left column until you find the range for your Iowa taxable income from line 42 on form IA1040. Read across to the column marked “Your Tax Is.” Enter the amount on line 43. 2008 IA1040 TAX TABLES For All Filing Statuses If line 42 of form IA1040 is: Your Tax Is 5,697 5,701 5,706 5,710 5,715 5,719 5,724 5,728 5,733 5,737 5,742 5,746 5,751 5,755 5,760 5,764 5,769 5,773 5,777 5,782 5,786 5,791 5,795 5,800 5,804 5,809 5,813 5,818 5,822 5,827 5,831 5,836 5,840 5,845 5,849 5,854 5,858 5,863 5,867 5,872 5,876 5,881 5,885 5,890 5,894 5,899 5,903 5,908 5,912 5,917 5,921 5,926 5,930 5,935 5,939 5,944 5,948 5,953 5,957 5,962 5,966 5,971 5,975 5,980 5,984 5,989 5,993 5,998 6,002 6,006 6,011 6,015 6,020 6,024 6,029 6,033 Over 85,600 85,650 85,700 85,750 85,800 85,850 85,900 85,950 86,000 86,050 86,100 86,150 86,200 86,250 86,300 86,350 86,400 86,450 86,500 86,550 86,600 86,650 86,700 86,750 86,800 86,850 86,900 86,950 87,000 87,050 87,100 87,150 87,200 87,250 87,300 87,350 87,400 87,450 87,500 87,550 87,600 87,650 87,700 87,750 87,800 87,850 87,900 87,950 88,000 88,050 88,100 88,150 88,200 88,250 88,300 88,350 88,400 88,450 88,500 88,550 88,600 88,650 88,700 88,750 88,800 88,850 88,900 88,950 89,000 89,050 89,100 89,150 89,200 89,250 89,300 89,350 But Not Over 85,650 85,700 85,750 85,800 85,850 85,900 85,950 86,000 86,050 86,100 86,150 86,200 86,250 86,300 86,350 86,400 86,450 86,500 86,550 86,600 86,650 86,700 86,750 86,800 86,850 86,900 86,950 87,000 87,050 87,100 87,150 87,200 87,250 87,300 87,350 87,400 87,450 87,500 87,550 87,600 87,650 87,700 87,750 87,800 87,850 87,900 87,950 88,000 88,050 88,100 88,150 88,200 88,250 88,300 88,350 88,400 88,450 88,500 88,550 88,600 88,650 88,700 88,750 88,800 88,850 88,900 88,950 89,000 89,050 89,100 89,150 89,200 89,250 89,300 89,350 89,400 Your Tax Is 6,038 6,042 6,047 6,051 6,056 6,060 6,065 6,069 6,074 6,078 6,083 6,087 6,092 6,096 6,101 6,105 6,110 6,114 6,119 6,123 6,128 6,132 6,137 6,141 6,146 6,150 6,155 6,159 6,164 6,168 6,173 6,177 6,182 6,186 6,191 6,195 6,200 6,204 6,209 6,213 6,218 6,222 6,226 6,231 6,235 6,240 6,244 6,249 6,253 6,258 6,262 6,267 6,271 6,276 6,280 6,285 6,289 6,294 6,298 6,303 6,307 6,312 6,316 6,321 6,325 6,330 6,334 6,339 6,343 6,348 6,352 6,357 6,361 6,366 6,370 6,375 If line 42 of form IA1040 is: Over 78,000 78,050 78,100 78,150 78,200 78,250 78,300 78,350 78,400 78,450 78,500 78,550 78,600 78,650 78,700 78,750 78,800 78,850 78,900 78,950 79,000 79,050 79,100 79,150 79,200 79,250 79,300 79,350 79,400 79,450 79,500 79,550 79,600 79,650 79,700 79,750 79,800 79,850 79,900 79,950 80,000 80,050 80,100 80,150 80,200 80,250 80,300 80,350 80,400 80,450 80,500 80,550 80,600 80,650 80,700 80,750 80,800 80,850 80,900 80,950 81,000 81,050 81,100 81,150 81,200 81,250 81,300 81,350 81,400 81,450 81,500 81,550 81,600 81,650 81,700 81,750 But Not Over 78,050 78,100 78,150 78,200 78,250 78,300 78,350 78,400 78,450 78,500 78,550 78,600 78,650 78,700 78,750 78,800 78,850 78,900 78,950 79,000 79,050 79,100 79,150 79,200 79,250 79,300 79,350 79,400 79,450 79,500 79,550 79,600 79,650 79,700 79,750 79,800 79,850 79,900 79,950 80,000 80,050 80,100 80,150 80,200 80,250 80,300 80,350 80,400 80,450 80,500 80,550 80,600 80,650 80,700 80,750 80,800 80,850 80,900 80,950 81,000 81,050 81,100 81,150 81,200 81,250 81,300 81,350 81,400 81,450 81,500 81,550 81,600 81,650 81,700 81,750 81,800 Your Tax Is 5,355 5,360 5,364 5,369 5,373 5,378 5,382 5,387 5,391 5,396 5,400 5,405 5,409 5,414 5,418 5,423 5,427 5,432 5,436 5,441 5,445 5,450 5,454 5,459 5,463 5,468 5,472 5,477 5,481 5,486 5,490 5,495 5,499 5,504 5,508 5,513 5,517 5,522 5,526 5,531 5,535 5,540 5,544 5,549 5,553 5,557 5,562 5,566 5,571 5,575 5,580 5,584 5,589 5,593 5,598 5,602 5,607 5,611 5,616 5,620 5,625 5,629 5,634 5,638 5,643 5,647 5,652 5,656 5,661 5,665 5,670 5,674 5,679 5,683 5,688 5,692 If line 42 of form IA1040 is: Over 81,800 81,850 81,900 81,950 82,000 82,050 82,100 82,150 82,200 82,250 82,300 82,350 82,400 82,450 82,500 82,550 82,600 82,650 82,700 82,750 82,800 82,850 82,900 82,950 83,000 83,050 83,100 83,150 83,200 83,250 83,300 83,350 83,400 83,450 83,500 83,550 83,600 83,650 83,700 83,750 83,800 83,850 83,900 83,950 84,000 84,050 84,100 84,150 84,200 84,250 84,300 84,350 84,400 84,450 84,500 84,550 84,600 84,650 84,700 84,750 84,800 84,850 84,900 84,950 85,000 85,050 85,100 85,150 85,200 85,250 85,300 85,350 85,400 85,450 85,500 85,550 But Not Over 81,850 81,900 81,950 82,000 82,050 82,100 82,150 82,200 82,250 82,300 82,350 82,400 82,450 82,500 82,550 82,600 82,650 82,700 82,750 82,800 82,850 82,900 82,950 83,000 83,050 83,100 83,150 83,200 83,250 83,300 83,350 83,400 83,450 83,500 83,550 83,600 83,650 83,700 83,750 83,800 83,850 83,900 83,950 84,000 84,050 84,100 84,150 84,200 84,250 84,300 84,350 84,400 84,450 84,500 84,550 84,600 84,650 84,700 84,750 84,800 84,850 84,900 84,950 85,000 85,050 85,100 85,150 85,200 85,250 85,300 85,350 85,400 85,450 85,500 85,550 85,600 If line 42 of form IA1040 is: Over 89,400 89,450 89,500 89,550 89,600 89,650 89,700 89,750 89,800 89,850 89,900 89,950 90,000 90,050 90,100 90,150 90,200 90,250 90,300 90,350 90,400 90,450 90,500 90,550 90,600 90,650 90,700 90,750 90,800 90,850 90,900 90,950 91,000 91,050 91,100 91,150 91,200 91,250 91,300 91,350 91,400 91,450 91,500 91,550 91,600 91,650 91,700 91,750 91,800 91,850 91,900 91,950 92,000 92,050 92,100 92,150 92,200 92,250 92,300 92,350 92,400 92,450 92,500 92,550 92,600 92,650 92,700 92,750 92,800 92,850 92,900 92,950 93,000 93,050 93,100 93,150 But Not Over 89,450 89,500 89,550 89,600 89,650 89,700 89,750 89,800 89,850 89,900 89,950 90,000 90,050 90,100 90,150 90,200 90,250 90,300 90,350 90,400 90,450 90,500 90,550 90,600 90,650 90,700 90,750 90,800 90,850 90,900 90,950 91,000 91,050 91,100 91,150 91,200 91,250 91,300 91,350 91,400 91,450 91,500 91,550 91,600 91,650 91,700 91,750 91,800 91,850 91,900 91,950 92,000 92,050 92,100 92,150 92,200 92,250 92,300 92,350 92,400 92,450 92,500 92,550 92,600 92,650 92,700 92,750 92,800 92,850 92,900 92,950 93,000 93,050 93,100 93,150 93,200 Your Tax Is 6,379 6,384 6,388 6,393 6,397 6,402 6,406 6,411 6,415 6,420 6,424 6,429 6,433 6,438 6,442 6,447 6,451 6,455 6,460 6,464 6,469 6,473 6,478 6,482 6,487 6,491 6,496 6,500 6,505 6,509 6,514 6,518 6,523 6,527 6,532 6,536 6,541 6,545 6,550 6,554 6,559 6,563 6,568 6,572 6,577 6,581 6,586 6,590 6,595 6,599 6,604 6,608 6,613 6,617 6,622 6,626 6,631 6,635 6,640 6,644 6,649 6,653 6,658 6,662 6,667 6,671 6,675 6,680 6,684 6,689 6,693 6,698 6,702 6,707 6,711 6,716 If line 42 of form IA1040 is: Over 93,200 93,250 93,300 93,350 93,400 93,450 93,500 93,550 93,600 93,650 93,700 93,750 93,800 93,850 93,900 93,950 94,000 94,050 94,100 94,150 94,200 94,250 94,300 94,350 94,400 94,450 94,500 94,550 94,600 94,650 94,700 94,750 94,800 94,850 94,900 94,950 95,000 95,050 95,100 95,150 95,200 95,250 95,300 95,350 But Not Over 93,250 93,300 93,350 93,400 93,450 93,500 93,550 93,600 93,650 93,700 93,750 93,800 93,850 93,900 93,950 94,000 94,050 94,100 94,150 94,200 94,250 94,300 94,350 94,400 94,450 94,500 94,550 94,600 94,650 94,700 94,750 94,800 94,850 94,900 94,950 95,000 95,050 95,100 95,150 95,200 95,250 95,300 95,350 95,400 Your Tax Is 6,720 6,725 6,729 6,734 6,738 6,743 6,747 6,752 6,756 6,761 6,765 6,770 6,774 6,779 6,783 6,788 6,792 6,797 6,801 6,806 6,810 6,815 6,819 6,824 6,828 6,833 6,837 6,842 6,846 6,851 6,855 6,860 6,864 6,869 6,873 6,878 6,882 6,887 6,891 6,896 6,900 6,904 6,909 6,913 TAXABLE INCOME OVER $95,400 If line 42 exceeds $95,400, multiply the excess over $95,375 by 8.98% (.0898) and add it to $6,913.47. Enter the total on line 43 of the IA 1040. Round your total. EXAMPLE If line 42 of IA 1040 = $110,000 STEP 1 $110,000 - $95,375 = $14,625 STEP 2 $14,625 x 8.98% = $1,313.33 STEP 3 $1,313.33 + $6,913.47 = $8,226.80 (round to $8,227) Enter $8,227 on line 43 of the IA 1040. 15 Expanded instructions are at www.state.ia.us/tax
Slide 19: I O WA C O U N T I E S , S C H O O L D I S T R I C T N U M B E R S , S U R TA X R AT E S F O R 2008 01-ADAIR 0018 Adair-Casey ................. 8% 0252 Anita ............................ 10% 2673 Nodaway Valley .......... 7% 4978 Orient-Macksburg ..... 20% 6264 West Central Valley ... 1% 02-ADAMS 0914 C and M ...................... 10% 1431 Corning ......................... 5% 1503 Creston ......................... 2% 2718 Griswold ..................... 12% 3609 Lenox .......................... 17% 4978 Orient-Macksburg ..... 20% 5328 Prescott ........................ 0% 6651 Villisca .......................... 5% 03-ALLAMAKEE 0135 Allamakee .................... 8% 1638 Decorah ........................ 5% 1972 Eastern Allamakee ... 10% 4419 MFL-Mar-Mac .............. 8% 5310 Postville ....................... 8% 04-APPANOOSE * (see footnote below) 0081 1071 4491 4518 5895 Albia ............................ 11% Centerville ................... 5% Moravia ....................... 13% Moulton-Udell ............ 13% Seymour ..................... 11% 05-AUDUBON 0018 Adair-Casey ................. 8% 0252 Anita ............................ 10% 0387 Atlantic ....................... 15% 0414 Audubon ....................... 8% 1413 Coon Rapids-Bayard .. 7% 2016 Elk Horn-Kimballton . 14% 2151 Exira .............................. 9% 2754 Guthrie Center ............ 7% 4014 Manning ..................... 12% 06-BENTON 0576 Belle Plaine ............... 10% 0609 Benton .......................... 6% 1062 Center Point-Urbana .. 6% 1337 College ......................... 0% 1935 Union ............................ 9% 3105 Independence ............. 8% 4777 North Linn .................... 9% 6660 Vinton-Shellsburg ....... 6% 07-BLACK HAWK 1044 Cedar Falls .................. 0% 1719 Denver .......................... 4% 1791 Dike-New Hartford ...... 7% 1908 Dunkerton .................. 10% 1935 Union ............................ 9% 2502 Gladbrook-Reinbeck 10% 3042 Hudson ......................... 8% 3186 Janesville ..................... 8% 3204 Jesup ............................ 0% 6660 Vinton-Shellsburg ....... 6% 6762 Wapsie Valley ........... 11% 6795 Waterloo ....................... 0% 6840 Waverly-Shell Rock .... 6% 08-BOONE 0472 Ballard .......................... 2% 0729 Boone ........................... 7% 1967 East Greene .............. 10% 2466 Gilbert ........................... 0% 3942 Madrid ........................... 7% 4779 North Polk .................... 5% 4878 Ogden ........................... 7% 5184 Perry ............................. 3% 5643 Roland-Story ............... 6% 6095 South Hamilton ......... 10% 6096 SE Webster-Grand ..... 6% 6246 Stratford ....................... 9% 6561 United ........................... 7% 7110 Woodward-Granger .... 8% 09-BREMER 1719 Denver .......................... 4% 1908 Dunkerton .................. 10% 2349 Fredericksburg .......... 10% 3186 Janesville ..................... 8% 4599 Nashua-Plainfield ..... 11% 6273 Sumner ......................... 9% 6471 Tripoli ......................... 11% 6762 Wapsie Valley ........... 11% 6840 Waverly-Shell Rock .... 6% 10-BUCHANAN 1935 Union ............................ 9% 1963 East Buchanan .......... 13% 3105 Independence ............. 8% 3204 Jesup ............................ 0% 4777 North Linn .................... 9% 4869 Oelwein ...................... 11% 6175 Starmont ...................... 0% 6660 Vinton-Shellsburg ....... 6% 6762 Wapsie Valley ........... 11% 6950 West Delaware Co. .... 5% 11-BUENA VISTA 0072 Albert City-Truesdale . 0% 0171 Alta ................................ 9% 0423 Aurelia .......................... 9% 2376 Galva-Holstein ............ 4% 3537 Laurens-Marathon ...... 8% 4644 Newell-Fonda .............. 7% 5823 Schaller-Crestland ... 12% 6048 Sioux Central .............. 0% 6092 South Clay ................. 10% 6219 Storm Lake .................. 3% 12-BUTLER 0009 AGWSR ...................... 16% 0153 Allison-Bristow ............ 7% 0279 AplingtonParkersburg ................ 7% 1215 Clarksville .................. 15% 1791 Dike-New Hartford ...... 7% 2664 Greene .......................... 0% 2781 Hampton-Dumont ....... 3% 4599 Nashua-Plainfield ..... 11% 6840 Waverly-Shell Rock .... 6% 13-CALHOUN 3411 Southern Cal ............... 0% 4023 Manson-NW Webster 10% 4644 Newell-Fonda .............. 7% 5301 Pomeroy-Palmer ....... 10% 5323 Prairie Valley ............. 10% 5625 Rockwell City-Lytton .. 0% 14-CARROLL 0355 Ar-We-Va ..................... 8% 0999 Carroll ........................... 0% 1413 Coon Rapids-Bayard .. 7% 2520 Glidden-Ralston ........ 10% 3411 Southern Cal ............... 0% 4014 Manning ..................... 12% 6741 Wall Lake View Auburn ......................... 4% 15-CASS 0252 Anita ............................ 10% 0387 Atlantic ....................... 15% 0914 C and M ...................... 10% 2016 Elk Horn-Kimballton . 14% 2151 Exira .............................. 9% 2718 Griswold ..................... 12% 6750 Walnut .......................... 7% 16-CEDAR 0603 Bennett ....................... 10% 1926 Durant ......................... 10% 3691 North Cedar ............... 10% 3744 Lisbon ........................... 9% 4269 Midland ....................... 12% 6408 Tipton .......................... 10% 6930 West Branch .............. 13% 6975 West Liberty .............. 15% 7038 Wilton ........................... 9% 17-CERRO GORDO 1233 Clear Lake ................... 5% 2295 Forest City ................... 4% 4131 Mason City ................... 0% 4761 Nora SpringsRock Falls ................... 0% 4772 North Central ............... 7% 5616 Rockwell-Swaledale ... 8% 5697 Rudd-RockfordMarble Rock ................ 0% 5922 Sheffield-ChapinMeservey-Thornton .. 15% 6633 Ventura ....................... 13% 18-CHEROKEE 0171 Alta ................................ 9% 0423 Aurelia .......................... 9% 1152 Cherokee ...................... 4% 1975 River Valley ............... 14% 2376 Galva-Holstein ............ 4% 3348 Kingsley-Pierson ........ 3% 4068 Marcus-MeridenCleghorn ...................... 10% 5157 South O'Brien ............ 10% 6048 Sioux Central .............. 0% 19-CHICKASAW 1116 Charles City ................. 9% 2349 Fredericksburg .......... 10% 3029 Howard-Winneshiek . 11% 4599 Nashua-Plainfield ..... 11% 4662 New Hampton .............. 6% 6273 Sumner ......................... 9% 6471 Tripoli ......................... 11% 6509 Turkey Valley .............. 0% * Rates for residents of Appanoose County include a 1 percent local option surtax for Emergency Medical Services. 20-CLARKE 1211 Clarke ........................... 5% 1970 East Union ................. 12% 3119 Interstate 35 ................ 0% 4505 Mormon Trail ............. 13% 4572 Murray ........................ 15% 21-CLAY 1218 Clay Central-Everly .... 5% 2862 Hartley-MelvinSanborn ....................... 7% 4890 Okoboji ......................... 2% 5157 South O'Brien ............ 10% 5724 Ruthven-Ayrshire ...... 12% 6048 Sioux Central .............. 0% 6092 South Clay ................. 10% 6102 Spencer ........................ 4% 6345 Terril ........................... 10% 22-CLAYTON 1080 Central Clayton ......... 10% 1989 Edgewood-Colesburg 8% 2763 Clayton Ridge ............. 5% 4419 MFL-Mar-Mac .............. 8% 5310 Postville ....................... 8% 6175 Starmont ...................... 0% 6591 Valley ............................ 6% 6961 Western Dubuque Co. 6% 23-CLINTON 0918 Calamus/Wheatland ... 7% 0936 Camanche .................... 0% 1082 Central Clinton ............ 6% 1278 Clinton .......................... 9% 1675 Delwood ..................... 10% 1965 East Central ................ 0% 4041 Maquoketa ................. 10% 4269 Midland ....................... 12% 4773 Northeast ................... 11% 5337 Preston ......................... 0% 24-CRAWFORD 0355 Ar-We-Va ..................... 8% 0504 Battle CreekIda Grove .................... 7% 1134 Charter Oak-Ute ....... 15% 1701 Denison ........................ 8% 1917 Boyer Valley .............. 13% 3996 IKM .............................. 16% 4014 Manning ..................... 12% 4033 Maple Valley .............. 10% 4860 Odebolt-Arthur ............ 8% 5832 Schleswig ..................... 7% 6741 Wall Lake View Auburn ......................... 4% 25-DALLAS 0027 Adel-DeSoto-Minburn 0% 1576 Dallas Center-Grimes 0% 1953 Earlham ........................ 0% 3942 Madrid ........................... 7% 5121 Panorama ..................... 6% 5184 Perry ............................. 3% 6264 West Central Valley ... 1% 6615 Van Meter .................... 5% 6822 Waukee ........................ 0% 6957 West Des Moines ....... 0% 7110 Woodward-Granger .... 8% 26-DAVIS 0657 Eddyville-Blakesburg 10% 0977 Cardinal ........................ 8% 1619 Davis County ............... 0% 4491 Moravia ....................... 12% 4518 Moulton-Udell ............ 12% 6592 Van Buren .................. 10% 27-DECATUR 1093 Central Decatur ........ 10% 1211 Clarke ........................... 5% 3465 Lamoni ........................ 12% 3705 Lineville-Clio ............. 10% 4505 Mormon Trail ............. 13% 4527 Mount Ayr ..................... 6% 4572 Murray ........................ 15% 28-DELAWARE 1989 Edgewood-Colesburg 8% 4043 Maquoketa Valley ....... 0% 4446 Monticello .................... 5% 4777 North Linn .................... 9% 6175 Starmont ...................... 0% 6950 West Delaware Co. .... 5% 6961 Western Dubuque Co. 6% 29-DES MOINES 0882 Burlington .................... 0% 1602 Danville ...................... 10% 2322 Fort Madison ............... 0% 4203 Mediapolis ................... 7% 4509 Morning Sun ................ 7% 4689 New London ................ 9% 6759 Wapello ........................ 7% 6937 West Burlington .......... 0% 7047 Winfield-Mt. Union ..... 7% 30-DICKINSON 1218 Clay Central-Everly .... 5% 2124 Estherville-Lincoln Central ......................... 10% 2846 Harris-Lake Park ......... 0% 2862 Hartley-MelvinSanborn ....................... 7% 4890 Okoboji ......................... 2% 6120 Spirit Lake ................... 4% 6345 Terril ........................... 10% 31-DUBUQUE 1863 Dubuque ....................... 0% 4041 Maquoketa ................. 10% 4446 Monticello .................... 5% 6961 Western Dubuque Co. 6% 32-EMMET 0333 Armstrong-Ringsted . 12% 2124 Estherville-Lincoln Central ........................ 10% 2556 Graettinger ................ 16% 6345 Terril ........................... 10% 33-FAYETTE 2349 Fredericksburg .......... 10% 4774 North Fayette .............. 8% 4869 Oelwein ...................... 11% 5310 Postville ....................... 8% 6175 Starmont ...................... 0% 6273 Sumner ......................... 9% 6509 Turkey Valley .............. 0% 6591 Valley ............................ 6% 6762 Wapsie Valley ........... 11% 6943 West Central ............. 10% 34-FLOYD 1116 Charles City ................. 9% 2664 Greene .......................... 0% 4599 Nashua-Plainfield ..... 11% 4761 Nora SpringsRock Falls ................... 0% 4995 Osage ........................... 5% 5697 Rudd-RockfordMarble Rock ................ 0% 35-FRANKLIN 0009 AGWSR ...................... 16% 0108 Alden ........................... 10% 0594 Belmond-Klemme ....... 3% 0916 Cal ............................... 12% 1854 Dows ............................. 0% 2781 Hampton-Dumont ....... 3% 3150 Iowa Falls .................... 8% 5922 Sheffield-ChapinMeservey-Thornton .. 15% 36-FREMONT 2205 Farragut ...................... 13% 2369 Fremont-Mills ............ 14% 2772 Hamburg ....................... 4% 5976 Shenandoah .............. 12% 6003 Sidney ......................... 10% 37-GREENE 1413 Coon Rapids-Bayard .. 7% 1967 East Greene .............. 10% 2520 Glidden-Ralston ........ 10% 3195 Jefferson-Scranton ..... 7% 3411 Southern Cal ............... 0% 5121 Panorama ..................... 6% 5139 Paton-Churdan ............ 9% 5184 Perry ............................. 3% 5323 Prairie Valley ............. 10% 6096 SE Webster-Grand ..... 6% 38-GRUNDY 0009 AGWSR ...................... 16% 0279 AplingtonParkersburg ................ 7% 0540 BCLUW ....................... 11% 1791 Dike-New Hartford ...... 7% 2007 EldoraNew Providence ......... 7% 2502 Gladbrook-Reinbeck 10% 2727 Grundy Center ............. 6% 39-GUTHRIE 0018 Adair-Casey ................. 8% 0414 Audubon ....................... 8% 1413 Coon Rapids-Bayard .. 7% 2151 Exira .............................. 9% 2754 Guthrie Center ............ 7% 5121 Panorama ..................... 6% 6264 West Central Valley ... 1% 40-HAMILTON 3033 Hubbard-Radcliffe ...... 0% 4775 Northeast Hamilton .. 15% 5643 Roland-Story ............... 6% 6095 South Hamilton ......... 10% 6246 Stratford ....................... 9% 6867 Webster City ................ 4% 41-HANCOCK 0594 Belmond-Klemme ....... 3% 0819 West Hancock ........... 12% 1206 Clarion-Goldfield ........ 8% 1449 Corwith-Wesley ......... 20% 2295 Forest City ................... 4% 2403 Garner-Hayfield ........ 10% 5922 Sheffield-ChapinMeservey-Thornton .. 15% 6417 Titonka ........................ 10% 6633 Ventura ....................... 13% 7083 Woden-Crystal Lake 16% 42-HARDIN 0009 AGWSR ...................... 16% 0108 Alden ........................... 10% 0540 BCLUW ....................... 11% 1359 Colo-Nesco ................ 10% 2007 EldoraNew Providence ......... 7% 3033 Hubbard-Radcliffe ...... 0% 3150 Iowa Falls .................... 8% 5643 Roland-Story ............... 6% 43-HARRISON 0441 A-H-S-T ........................ 8% 1917 Boyer Valley .............. 13% 2826 Harlan ........................... 8% 3798 Logan-Magnolia .......... 7% 4356 Missouri Valley ........... 7% 6460 Tri-Center ..................... 8% 6969 West Harrison ........... 11% 6987 West Monona .............. 4% 7092 Woodbine ................... 16% 44-HENRY 1602 Danville ...................... 10% 2169 Fairfield ........................ 4% 2322 Fort Madison ............... 0% 2834 Harmony ..................... 13% 4536 Mount Pleasant ........... 5% 4689 New London ................ 9% 6700 Waco ............................. 0% 7047 Winfield-Mt. Union ..... 7% 45-HOWARD 3029 Howard-Winneshiek . 11% 4662 New Hampton .............. 6% 5508 Riceville ..................... 11% 6509 Turkey Valley .............. 0% 46-HUMBOLDT 1206 Clarion-Goldfield ........ 8% 1944 Eagle Grove ................. 7% 2493 Gilmore CityBradgate ................... 15% 3060 Humboldt ...................... 8% 3897 Lu Verne ..................... 15% 6516 Twin Rivers ................ 20% 6921 West Bend-Mallard ... 11% 47-IDA 0504 Battle CreekIda Grove .................... 7% 1701 Denison ........................ 8% 1975 River Valley ............... 14% 2376 Galva-Holstein ............ 4% 4033 Maple Valley .............. 10% 4860 Odebolt-Arthur ............ 8% 5823 Schaller-Crestland ... 12% 5832 Schleswig ..................... 7% 48-IOWA 0576 Belle Plaine ............... 10% 0609 Benton .......................... 6% 1221 Clear Creek-Amana . 10% 1647 Deep RiverMillersburg ................ 12% 2097 English Valleys ......... 19% 2766 HLV ............................... 8% 3154 Iowa Valley ................ 17% 4271 Mid-Prairie ................... 6% 6462 Tri-County .................. 15% 7029 Williamsburg ................ 8% 49-JACKSON 0243 Andrew ....................... 15% 0585 Bellevue ....................... 4% 1675 Delwood ..................... 10% 1863 Dubuque ....................... 0% 1965 East Central ................ 0% 4041 Maquoketa ................. 10% 4269 Midland ....................... 12% 5337 Preston ......................... 0% 6961 Western Dubuque Co. 6% 50-JASPER 0513 Baxter ......................... 12% 0720 Bondurant-Farrar ........ 3% 1332 Colfax-Mingo ............... 9% 1350 Collins-Maxwell ........... 3% 2709 Grinnell-Newburg ....... 8% 3582 East Marshall ............ 12% 3906 Lynnville-Sully ............. 8% 4725 Newton ......................... 3% 5166 Pella .............................. 4% 5319 PCM .............................. 5% 6101 Southeast Polk ............ 5% 16 Expanded instructions are at www.state.ia.us/tax
Slide 20: I O WA C O U N T I E S , S C H O O L D I S T R I C T N U M B E R S , S U R TA X R AT E S F O R 2008 51-JEFFERSON 0977 Cardinal ........................ 8% 2169 Fairfield ........................ 4% 4536 Mount Pleasant ........... 5% 5163 Pekin ............................. 8% 6700 Waco ............................. 0% 6768 Washington ................ 10% 52-JOHNSON 1221 Clear Creek-Amana . 10% 1337 College ......................... 0% 2977 Highland ....................... 7% 3141 Iowa City ...................... 5% 3744 Lisbon ........................... 9% 3816 Lone Tree ................... 10% 4271 Mid-Prairie ................... 6% 4554 Mount Vernon .............. 5% 6093 Solon ............................. 6% 6930 West Branch .............. 13% 6975 West Liberty .............. 15% 7029 Williamsburg ................ 8% 53-JONES 0234 Anamosa ...................... 6% 3691 North Cedar ............... 10% 3744 Lisbon ........................... 9% 4269 Midland ....................... 12% 4446 Monticello .................... 5% 4554 Mount Vernon .............. 5% 4905 Olin .............................. 10% 6961 Western Dubuque Co. 6% 54-KEOKUK 2097 English Valleys ......... 19% 2367 Fremont ...................... 12% 3330 Keota .......................... 10% 5163 Pekin ............................. 8% 6012 Sigourney ..................... 6% 6462 Tri-County .................. 15% 55-KOSSUTH 0126 Algona .......................... 8% 0333 Armstrong-Ringsted . 12% 0873 North Iowa ................. 13% 1449 Corwith-Wesley ......... 20% 3897 Lu Verne ..................... 15% 4778 North Kossuth ........... 17% 5868 Sentral ........................ 16% 6417 Titonka ........................ 10% 6516 Twin Rivers ................ 20% 6921 West Bend-Mallard ... 11% 56-LEE 1079 Central Lee ................ 11% 2322 Fort Madison ............... 0% 2834 Harmony ..................... 13% 3312 Keokuk .......................... 0% 4536 Mount Pleasant ........... 5% 57-LINN 0099 Alburnett ...................... 0% 0234 Anamosa ...................... 6% 1053 Cedar Rapids .............. 6% 1062 Center Point-Urbana .. 6% 1089 Central City ................. 0% 1337 College ......................... 0% 3715 Linn-Mar ....................... 0% 3744 Lisbon ........................... 9% 4086 Marion ........................... 4% 4446 Monticello .................... 5% 4554 Mount Vernon .............. 5% 4777 North Linn .................... 9% 6093 Solon ............................. 6% 6138 Springville .................... 5% 58-LOUISA 1368 Columbus ................... 17% 2977 Highland ....................... 7% 3816 Lone Tree ................... 10% 3841 Louisa-Muscatine ..... 10% 4203 Mediapolis ................... 7% 4509 Morning Sun ................ 7% 6700 Waco ............................. 0% 6759 Wapello ........................ 7% 7047 Winfield-Mt. Union ..... 7% 59-LUCAS 1107 Chariton ........................ 8% 1211 Clarke ........................... 5% 4505 Mormon Trail ............. 13% 6094 Southeast Warren .... 10% 6854 Wayne ........................... 8% 60-LYON 0747 Boyden-Hull ................. 5% 1095 Central Lyon ................ 9% 2457 George-Little Rock ... 20% 5607 Rock Valley .................. 0% 5949 Sheldon ........................ 8% 6983 West Lyon .................. 10% 61-MADISON 0027 Adel-DeSoto-Minburn 0% 1953 Earlham ........................ 0% 1970 East Union ................. 12% 2673 Nodaway Valley .......... 7% 3119 Interstate 35 ................ 0% 4122 MartensdaleSt. Marys ..................... 9% 4978 Orient-Macksburg ..... 20% 6615 Van Meter .................... 5% 7056 Winterset ...................... 4% 62-MAHASKA 0657 Eddyville-Blakesburg 10% 2367 Fremont ...................... 12% 3906 Lynnville-Sully ............. 8% 4776 North Mahaska ............ 0% 5013 Oskaloosa .................... 0% 5166 Pella .............................. 4% 6462 Tri-County .................. 15% 6512 Twin Cedars ................ 6% 63-MARION 1107 Chariton ........................ 8% 3375 Knoxville ....................... 6% 4212 Melcher-Dallas ............ 7% 5166 Pella .............................. 4% 5256 Pleasantville .............. 10% 5319 PCM .............................. 5% 6101 Southeast Polk ............ 5% 6512 Twin Cedars ................ 6% 64-MARSHALL 0513 Baxter ......................... 12% 0540 BCLUW ....................... 11% 1350 Collins-Maxwell ........... 3% 1359 Colo-Nesco ................ 10% 2007 EldoraNew Providence ......... 7% 2502 Gladbrook-Reinbeck 10% 2682 GMG ............................ 11% 3582 East Marshall ............ 12% 4104 Marshalltown ............... 0% 6985 West Marshall ............. 9% 65-MILLS 2369 Fremont-Mills ............ 14% 2511 Glenwood ..................... 0% 3645 Lewis Central .............. 6% 3978 Malvern ....................... 15% 4751 Nishna Valley ............ 12% 5976 Shenandoah .............. 12% 6453 Treynor ......................... 5% 66-MITCHELL 4761 Nora SpringsRock Falls ................... 0% 4995 Osage ........................... 5% 5508 Riceville ..................... 11% 5697 Rudd-RockfordMarble Rock ............... 0% 5751 St. Ansgar .................. 10% 67-MONONA 1134 Charter Oak-Ute ....... 15% 1917 Boyer Valley .............. 13% 4033 Maple Valley .............. 10% 6969 West Harrison ........... 11% 6987 West Monona .............. 4% 6992 Westwood .................... 6% 7002 Whiting ....................... 10% 7092 Woodbine ................... 16% 68-MONROE 0081 Albia ............................ 10% 0657 Eddyville-Blakesburg 10% 4491 Moravia ....................... 12% 69-MONTGOMERY 2113 Essex .......................... 12% 2718 Griswold ..................... 12% 4751 Nishna Valley ............ 12% 5463 Red Oak ....................... 8% 5976 Shenandoah .............. 12% 6165 Stanton ....................... 10% 6651 Villisca .......................... 5% 70-MUSCATINE 1368 Columbus ................... 17% 1611 Davenport .................... 0% 1926 Durant ......................... 10% 3841 Louisa-Muscatine ..... 10% 4581 Muscatine ..................... 0% 6975 West Liberty .............. 15% 7038 Wilton ........................... 9% 71-O’BRIEN 1218 Clay Central-Everly .... 5% 2862 Hartley-MelvinSanborn ....................... 7% 4149 MOC-Floyd Valley ...... 7% 5157 South O'Brien ............ 10% 5949 Sheldon ........................ 8% 6048 Sioux Central .............. 0% 72-OSCEOLA 2457 George-Little Rock ... 20% 2846 Harris-Lake Park ......... 0% 2862 Hartley-MelvinSanborn ....................... 7% 5949 Sheldon ........................ 8% 5994 Sibley-Ocheyedan ...... 7% 73-PAGE 0549 Bedford ....................... 10% 1197 Clarinda ........................ 5% 2113 Essex .......................... 12% 5463 Red Oak ....................... 8% 5976 Shenandoah .............. 12% 6097 South Page .................. 5% 6165 Stanton ....................... 10% 6651 Villisca .......................... 5% 74-PALO ALTO 0333 Armstrong-Ringsted . 12% 2088 Emmetsburg .............. 12% 2556 Graettinger ................ 16% 3537 Laurens-Marathon ...... 8% 5283 Pocahontas Area ........ 0% 5724 Ruthven-Ayrshire ...... 12% 5868 Sentral ........................ 16% 6345 Terril ........................... 10% 6921 West Bend-Mallard ... 11% 75-PLYMOUTH 0063 Akron-Westfield .......... 9% 2988 Hinton ........................... 8% 3348 Kingsley-Pierson ........ 3% 3555 Lawton-Bronson .......... 0% 3600 Le Mars ........................ 0% 4068 Marcus-MeridenCleghorn ................... 10% 5486 Remsen-Union ............ 0% 6039 Sioux City .................... 6% 6990 West Sioux .................. 6% 76-POCAHONTAS 0072 Albert City-Truesdale . 0% 2493 Gilmore CityBradgate ................... 15% 3537 Laurens-Marathon ...... 8% 4023 Manson-NW Webster 10% 4644 Newell-Fonda .............. 7% 5283 Pocahontas Area ........ 0% 5301 Pomeroy-Palmer ....... 10% 6921 West Bend-Mallard ... 11% 77-POLK 0261 Ankeny .......................... 0% 0472 Ballard .......................... 2% 0720 Bondurant-Farrar ........ 3% 0981 Carlisle ......................... 0% 1350 Collins-Maxwell ........... 3% 1576 Dallas Center-Grimes 0% 1737 Des Moines .................. 0% 3231 Johnston ....................... 0% 3942 Madrid ........................... 7% 4779 North Polk .................... 5% 5319 PCM .............................. 5% 5805 Saydel ........................... 0% 6101 Southeast Polk ............ 5% 6579 Urbandale .................... 0% 6957 West Des Moines ....... 0% 7110 Woodward-Granger .... 8% 78-POTTAWATTAMIE 0387 Atlantic ....................... 15% 0441 A-H-S-T ........................ 8% 1476 Council Bluffs .............. 0% 2511 Glenwood ..................... 0% 2718 Griswold ..................... 12% 3645 Lewis Central .............. 6% 4356 Missouri Valley ........... 7% 4824 Riverside .................... 11% 5463 Red Oak ....................... 8% 6453 Treynor ......................... 5% 6460 Tri-Center ..................... 8% 6534 Underwood ................... 0% 6750 Walnut .......................... 7% 79-POWESHIEK 0576 Belle Plaine ............... 10% 0846 Brooklyn-GuernseyMalcom ....................... 14% 1647 Deep River-Millersburg 12% 2709 Grinnell-Newburg ....... 8% 2766 HLV ............................... 8% 3582 East Marshall ............ 12% 3906 Lynnville-Sully ............. 8% 4437 Montezuma .................. 9% 4776 North Mahaska ............ 0% 6098 South Tama ................. 7% 6462 Tri-County .................. 15% 80-RINGGOLD 0549 Bedford ....................... 10% 1224 Clearfield ..................... 8% 1503 Creston ......................... 2% 1782 Diagonal ..................... 16% 1970 East Union ................. 12% 3465 Lamoni ........................ 12% 3609 Lenox .......................... 17% 4527 Mount Ayr ..................... 6% 81-SAC 0171 Alta ................................ 9% 2376 Galva-Holstein ............ 4% 3411 Southern Cal ............... 0% 4644 Newell-Fonda .............. 7% 4860 Odebolt-Arthur ............ 8% 5625 Rockwell City-Lytton .. 0% 5742 Sac ................................ 0% 5823 Schaller-Crestland ... 12% 6219 Storm Lake .................. 3% 6741 Wall Lake View Auburn ......................... 4% 82-SCOTT 0603 Bennett ....................... 10% 0621 Bettendorf .................... 0% 0918 Calamus Wheatland ... 7% 1611 Davenport .................... 0% 1926 Durant ......................... 10% 4784 North Scott .................. 1% 5250 Pleasant Valley ........... 0% 83-SHELBY 0441 A-H-S-T ........................ 8% 1917 Boyer Valley .............. 13% 2016 Elk Horn-Kimballton . 14% 2826 Harlan ........................... 8% 3996 IKM .............................. 16% 4014 Manning ..................... 12% 6460 Tri-Center ..................... 8% 6750 Walnut .......................... 7% 7092 Woodbine ................... 16% 84-SIOUX 0747 Boyden-Hull ................. 5% 2457 George-Little Rock ... 20% 4149 MOC-Floyd Valley ...... 7% 5486 Remsen-Union ............ 0% 5607 Rock Valley .................. 0% 5949 Sheldon ........................ 8% 6030 Sioux Center ............... 6% 6983 West Lyon .................. 10% 6990 West Sioux .................. 6% 85-STORY 0225 Ames ............................. 5% 0472 Ballard .......................... 2% 1350 Collins-Maxwell ........... 3% 1359 Colo-Nesco ................ 10% 2466 Gilbert ........................... 0% 4617 Nevada ......................... 5% 4779 North Polk .................... 5% 5643 Roland-Story ............... 6% 6561 United ........................... 7% 6985 West Marshall ............. 9% 86-TAMA 0576 Belle Plaine ............... 10% 0609 Benton .......................... 6% 1935 Union ............................ 9% 2502 Gladbrook-Reinbeck 10% 2682 GMG ............................ 11% 2727 Grundy Center ............. 6% 3582 East Marshall ............ 12% 4785 North Tama ................ 10% 6098 South Tama ................. 7% 87-TAYLOR 0549 Bedford ....................... 10% 1197 Clarinda ........................ 5% 1224 Clearfield ..................... 8% 1431 Corning ......................... 5% 3609 Lenox .......................... 17% 4527 Mount Ayr ..................... 6% 6651 Villisca .......................... 5% 88-UNION 1503 Creston ......................... 2% 1970 East Union ................. 12% 3609 Lenox .......................... 17% 4572 Murray ........................ 15% 4978 Orient-Macksburg ..... 20% 89-VAN BUREN 0977 Cardinal ........................ 8% 1619 Davis County ............... 0% 2169 Fairfield ........................ 4% 2834 Harmony ..................... 13% 4536 Mount Pleasant ........... 5% 6592 Van Buren .................. 10% 90-WAPELLO 0657 Eddyville-Blakesburg 10% 0977 Cardinal ........................ 8% 2169 Fairfield ........................ 4% 2367 Fremont ...................... 12% 5049 Ottumwa ....................... 0% 5163 Pekin ............................. 8% 91-WARREN 0981 Carlisle ......................... 0% 1737 Des Moines .................. 0% 3114 Indianola ...................... 5% 3119 Interstate 35 ................ 0% 4122 MartensdaleSt. Mary’s .................... 9% 4797 Norwalk ........................ 0% 5256 Pleasantville .............. 10% 6094 Southeast Warren .... 10% 92-WASHINGTON 2169 Fairfield ........................ 4% 2977 Highland ....................... 7% 3330 Keota .......................... 10% 4271 Mid-Prairie ................... 6% 5163 Pekin ............................. 8% 6700 Waco ............................. 0% 6768 Washington ................ 10% 7047 Winfield-Mt. Union ..... 7% 93-WAYNE 3705 Lineville-Clio ............. 10% 4505 Mormon Trail ............. 13% 5895 Seymour ..................... 10% 6854 Wayne ........................... 8% 94-WEBSTER 1944 Eagle Grove ................. 7% 2313 Fort Dodge ................... 3% 2493 Gilmore CityBradgate ................... 15% 3060 Humboldt ...................... 8% 4023 Manson-NW Webster 10% 5323 Prairie Valley ............. 10% 6096 SE Webster-Grand ..... 6% 6246 Stratford ....................... 9% 6867 Webster City ................ 4% 95-WINNEBAGO 0873 North Iowa ................. 13% 2295 Forest City ................... 4% 3420 Lake Mills ................... 10% 6417 Titonka ........................ 10% 7083 Woden-Crystal Lake 16% 96-WINNESHIEK 0135 Allamakee .................... 8% 1638 Decorah ........................ 5% 3029 Howard-Winneshiek . 11% 4787 North Winneshiek ..... 10% 5310 Postville ....................... 8% 6100 South Winneshiek ...... 6% 6509 Turkey Valley .............. 0% 97-WOODBURY 0270 Anthon-Oto .................. 5% 0504 Battle CreekIda Grove .................... 7% 1975 River Valley ............... 14% 3348 Kingsley-Pierson ........ 3% 3555 Lawton-Bronson .......... 0% 4033 Maple Valley .............. 10% 5877 Sergeant Bluff-Luton . 0% 6039 Sioux City .................... 6% 6992 Westwood .................... 6% 7098 Woodbury Central ...... 5% 98-WORTH 2295 Forest City ................... 4% 3420 Lake Mills ................... 10% 4772 North Central ............... 7% 4788 Northwood-Kensett .... 5% 5751 St. Ansgar .................. 10% 99-WRIGHT 0594 Belmond-Klemme ....... 3% 0819 West Hancock ........... 12% 0916 Cal ............................... 12% 1206 Clarion-Goldfield ........ 8% 1449 Corwith-Wesley ......... 20% 1854 Dows ............................. 0% 1944 Eagle Grove ................. 7% 3060 Humboldt ...................... 8% 4775 Northeast Hamilton .. 15% 5922 Sheffield-ChapinMeservey-Thornton .. 15% 6867 Webster City ................ 4% Nonresidents and Part-year Residents: Please see page 1 of the IA 1040 booklet or the online Expanded Instructions for more information. 17 Expanded instructions are at www.state.ia.us/tax
Slide 21: 2008 Iowa Individual Income Tax Long Form IA 1040 or fiscal year beginning __/__ 2008 and ending __/__ /__ STEP 1: Fill in all spaces. You MUST fill in your Social Security Number. Your last name Your first name/middle initial Spouse’s last name Spouse’s first name/middle initial Check this box if you or your spouse were 65 or older as of 12/31/08. Your Social Security Number Current mailing address (number and street, apartment, lot or suite number) or PO Box • Spouse Social Security Number Residence on 12/31/08 • City, State, ZIP STEP 2 Filing Status: Mark one box only. 1 2 3 4 5 6 Single: Were you claimed as a dependent on another person’s Iowa return? Married filing separately on this combined return. Spouse use column B. Married filing separate returns. Spouse’s name: Qualifying widow(er) with dependent child. YOU (and spouse if filing jointly) Are your name, your spouse’s name, if applicable, and your address the same as on last year’s return? YES NO YES NO ONNO County No. • SchoolDistrict No. • _______ _______ Dependent children for whom an exemption is claimed in Step 3 How many have health care coverage? How many do not have health care coverage? Married filing a joint return. (Two-income families may benefit by using status 3 or 4) SSN: SSN: • • Income: $ Head of household with qualifying person. If qualifying person is not claimed as a dependent on this return, enter the person’s name and Social Security Number below. Name: STEP 3 Exemptions a. Personal Credit: Enter 1 (Enter 2 if filing joint or head of household) ................... _______ b. Enter 1 for each person who is 65 or older and/or 1 for each person who is blind .... _______ c. Dependents: Enter 1 for each dependent .................................................................... _______ d. Enter first names of dependents here: ____________________________________ 40 X $ _________ = $ __________ 20 X $ _________ = $ __________ X $ _________ = $ __________ 40 e. TOTAL $ ______________ = $ __________ = $ __________ = $ __________ ______________ A. You or Joint SPOUSE (If filing status 3) 40 a. Personal Credit: Enter 1 ................................................................................................. _______ X $ _________ 20 b. Enter 1 if 65 or older and/or 1 if blind ............................................................................ _______ X $ _________ c. Dependents: Enter 1 for each dependent .................................................................... _______ X $ _________ 40 d. Enter first names of dependents here: ____________________________________ e. TOTAL $ B. Spouse/Status 3 A. You or Joint B. Spouse/Status 3 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 STEP 4 Figure your gross income 1. Wages, salaries, tips, etc. ................................................................. 1. ______________ .00 2. Taxable interest income. If more than $1,500, complete Sch. B ....... 2. ______________ .00 3. Ordinary dividend income. If more than $1,500, complete Sch. B ....... 3. ______________ .00 4. Alimony received .............................................................................. 4. ______________ .00 5. Business income/(loss) from federal Schedule C or C-EZ .............. 5. ______________ .00 6. Capital gain/(loss) from federal Sch. D if required for federal purposes . 6. ______________ .00 7. Other gains/(losses) from federal form 4797 .................................... 7. ______________ .00 8. Taxable IRA distributions .................................................................. 8. ______________ .00 9. Taxable pensions and annuities ....................................................... 9. ______________ .00 10. Rents, royalties, partnerships, estates, etc. ..................................... 10. ______________ .00 11. Farm income/(loss) from federal Schedule F ................................... 11. ______________ .00 12. Unemployment compensation .......................................................... 12. ______________ .00 13. Taxable Social Security benefits ...................................................... 13. ______________ .00 14. Other income, gambling income, bonus depreciation adjustment ... 14. ______________ .00 Staple W-2s, payment, and voucher here. 15. GROSS INCOME. ADD lines 1-14 ............................................................................................................................ 15. _______________ .00 _______________ .00 STEP 5 16. Figure your adjustments to income Payments to an IRA, KEOGH or SEP .............................................. 16. ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 _______________ .00 _______________ .00 17. One-half of self-employment tax ...................................................... 17. ______________ .00 18. Health insurance deduction .............................................................. 18. ______________ .00 19. Penalty on early withdrawal of savings ............................................ 19. ______________ .00 20. Alimony paid ..................................................................................... 20. ______________ .00 21. Pension/retirement income exclusion .............................................. 21. ______________ .00 22. Moving expense deduction from federal form 3903 ......................... 22. ______________ .00 23. Iowa capital gains deduction. ........................................................... 23. ______________ .00 24. Other adjustments ............................................................................ 24. ______________ .00 25. Total adjustments. ADD lines 16-24 .......................................................................................................................... 25. _______________ .00 26. NET INCOME. SUBTRACT line 25 from line 15 ..................................................................................................... 26. _______________ .00 27. Federal income tax refund / overpayment received in 2008 ............ 27. ______________ .00 28. Self-employment/household employment taxes .............................. 28. ______________ .00 ______________ .00 ______________ .00 STEP 6 Figure your federal tax addition and deduction 29. Addition for federal taxes. ADD lines 27 and 28 ....................................................................................................... 29. _______________ .00 30. Total. ADD lines 26 and 29 ....................................................................................................................................... 30. _______________ .00 31. Federal tax withheld ......................................................................... 31. ______________ .00 32. Federal estimated tax payments made in 2008 ............................... 32. ______________ .00 33. Additional federal tax paid in 2008 for 2007 and prior years ........... 33. ______________ .00 ______________ .00 ______________ .00 ______________ .00 _______________ .00 _______________ .00 34. Deduction for federal taxes. ADD lines 31, 32, and 33 ............................................................................................. 34. _______________ .00 35. BALANCE. SUBTRACT line 34 from line 30. Enter here and on line 36, side 2 ..................................................... 35. _______________ .00 _______________ .00 _______________ .00 41-001a (9/30/08) L08
Slide 22: 2008 IA 1040, page 2 STEP 7 Figure your taxable income B. Spouse/Status 3 A. You or Joint B. Spouse/Status 3 A. You or Joint _______________ .00 36. BALANCE. From side 1, line 35. ............................................................................................................................... 36. _______________ .00 37. Total itemized deductions from federal Schedule A ................. 37. ______________ .00 Taxpayers with bonus depreciation must use Iowa Schedule A 38. Iowa income tax if included in line 5 of federal Schedule A ..... 38. ______________ .00 39. BALANCE. Subtract line 38 from line 37 or enter the .............. 39. ______________ .00 amount of itemized deductions from the Iowa Schedule A 40. Other deductions. ...................................................................... 40. ______________ .00 41. Deduction. Check one box. Itemized. Add lines 39 and 40. ______________ .00 ______________ .00 ______________ .00 ______________ .00 } Complete lines 37-40 ONLY if you itemize. Standard. ................................................. 41. _______________ .00 ______________ .00 ______________ .00 ______________ .00 _______________ .00 _______________ .00 42. TAXABLE INCOME. SUBTRACT line 41 from line 36. ........................................................................................... 42. _______________ .00 STEP 8 Figure your tax, credits and checkoff contributions 43. Tax from tables or alternate tax ....................................................... 43. ______________ .00 44. Iowa lump-sum tax. 25% of federal tax from form 4972. ................. 44. ______________ .00 45. Iowa minimum tax. Attach IA 6251. ................................................. 45. ______________ .00 47. Total exemption credit amount(s) from Step 3, side 1 ..................... 47. ______________ .00 48. Tuition and textbook credit for dependents K-12. ............................ 48. ______________ .00 46. Total tax. ADD lines 43, 44 and 45. .......................................................................................................................... 46. _______________ .00 ______________ .00 ______________ .00 _______________ .00 49. Total credits. ADD lines 47 and 48. ........................................................................................................................... 49. _______________ .00 50. BALANCE. SUBTRACT line 49 from line 46. If less than zero, enter zero. ............................................................. 50. _______________ .00 51. Credit for nonresident or part-year resident. Attach IA 126 and federal return. ....................................................... 51. _______________ .00 52. BALANCE. SUBTRACT line 51 from 50. If less than or equal to zero, enter zero. ................................................. 52. _______________ .00 53. Other nonrefundable Iowa credits. Attach IA 148 Tax Credits Schedule. ................................................................ 53. _______________ .00 54. BALANCE. SUBTRACT line 53 from line 52. ........................................................................................................... 54. _______________ .00 55. School district surtax/EMS surtax. (take percentage from table, multiply by line 54). ............................................. 55. _______________ .00 56. Total Tax. ADD lines 54 and 55. ............................................................................................................................... 56. _______________ .00 57. Total tax before contributions. ADD Columns A & B on line 56 and enter here. ............................................................................................ 57. 58. Contributions. Contributions will reduce your refund or add to the amount you owe. Amounts must be in whole dollars. Fish/Wildlife 58a: StateFair 58b: Firefighters/Veterans 58c: Child Abuse Prevention 58d: Enter total. ............ 58. _______________ .00 _______________ .00 _______________ .00 _______________ .00 _______________ .00 _______________ .00 _______________ .00 _______________ .00 _______________ .00 _______________ .00 _______________ .00 59. TOTAL TAX AND CONTRIBUTIONS. ADD lines 57 and 58. ........................................................................................................................ 59. 60. Iowa income tax withheld. ................................................................ 60. ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 ______________ .00 STEP 9 Figure your credits 61. Estimate and voucher payments made for tax year 2008 ............... 61. ______________ .00 62. Out-of-state tax credit. Attach IA 130. .............................................. 62. ______________ .00 63. Motor fuel tax credit. Attach IA 4136. ............................................... 63. ______________ .00 64. Check One: Child and dependent care credit OR Early childhood development credit ...................... 64. ______________ .00 65. Iowa earned income credit: 7.0% (.07) of federal credit ............... 65. ______________ .00 66. Other refundable credits. Attach IA 148 Tax Credits Schedule. ...... 66. ______________ .00 67. TOTAL. ADD lines 60 - 66. ............................................................... 67. ______________ .00 68. TOTAL CREDITS. ADD columns A and B on line 67 and enter here. ........................................................................................................... 68. _______________ .00 _______________ .00 _______________ .00 STEP 10 69. If line 68 is more than line 59, SUBTRACT line 59 from line 68. This is the amount you overpaid. .............................................................. 69. 70. Amount of line 69 to be REFUNDED ........................................................................................................................................... REFUND 70. Figure Mail return to Iowa Income Tax - Refund Processing, Hoover State Office Bldg, Des Moines IA 50319-0120 your 71. Amount of line 69 to be applied to your 2009 estimated tax ....... 71. ______________ .00 ______________ .00 refund 72. If line 68 is less than line 59, SUBTRACT line 68 from line 59. This is the AMOUNT OF TAX YOU OWE. ................................................. 72. or amount 73. Penalty for underpayment of estimated tax. From IA 2210 or IA 2210F. Check if annualized income method is used ......................... 73. you owe 74. Penalty and interest. ........................... 74a. Penalty. ______________ .00 74b. Interest _______________ .00 _______________ .00 _______________ .00 _______________ .00 ADD Enter total 74. _______________ .00 75. TOTAL AMOUNT DUE. ADD lines 72, 73 and 74, and enter here. ......................................................................... PAY THIS AMOUNT 75. Electronically pay by credit card or direct debit. Go to www.state.ia.us/tax. To pay by mail: Iowa Income Tax - Document Processing, PO Box 9187, Des Moines IA 50306-9187. Make check payable to Treasurer, State of Iowa. STEP 11 POLITICAL CHECKOFF. This checkoff does not increase the amount of tax you owe or decrease your refund. YOURSELF SPOUSE $1.50 to Republican Party $1.50 to Republican Party $1.50 to Democratic Party $1.50 to Campaign Fund $1.50 to Democratic Party $1.50 to Campaign Fund STEP 12 NEXT YEAR, Would you like to receive a booklet? This option is not available to electronic filers. 0. 1. Yes No STEP 13 COW-CALF REFUND Attach IA 132. Do NOT use these amounts to increase your overpayment (line 69) or reduce the amount you owe (line 72). Spouse: $ ______________ .00 You: $ ______________ .00 STEP 14 PLEASE SIGN HERE SIGN HERE • Verify your Social I (We), the undersigned, declare under penalty of perjury that I (we) have examined this return, including all accompanying schedules and statements, and, to the best of my (our) knowledge and belief, it is a true, correct, and complete return. Declaration of preparer (other than taxpayer) is based on all information of which the preparer has any knowledge. Your Signature Date Date Preparer’s Signature Address Daytime Telephone Number Identification Number 41-001b (9/30/08) Date Spouse’s Signature Security Number(s) Daytime Telephone Number • Recheck your math • Attach all W-2s This return is due April 30, 2009. Mailing Addresses: See lines 70 and 75 above.
Slide 23: Iowa Department of Revenue www.state.ia.us/tax 2008 IA 1040 Schedule A Iowa Itemized Deductions If you itemize deductions, attach a copy of this schedule or a copy of the federal Schedule A to your return. Name(s) as shown on page 1 of the IA 1040 Social Security Number NOTE: If you have federal Bonus Depreciation, please see the 2008 Expanded Instructions on our Web site. Do not include health insurance premiums deducted on IA 1040, line 18. Medical and Dental Expenses Taxes You Paid 1. Medical and dental e x p e n s e s .............................................................................................. 1. _______________ .00 2. Multiply the amount on federal form 1040*, line 38 as adjusted for disallowance of bonus depreciation, from line 14 of the IA 1040 by 7.5% (.075). Enter result here. ....................... 2. _______________ .00 3. Subtract line 2 from line 1. If less than zero, enter zero. .................................................................................................... 3. _____________ .00 4. State and Local (Check only one box): a b Other state and local income taxes. Do not include Iowa Income Tax. Include School District Surtax and EMS Surtax paid in 2008 OR General sales taxes only from line 5b of the federal Schedule A. } ............... 4. _______________ .00 5. Real estate t a x e s ................................................................................................................... 5. _______________ .00 6. Personal p ro p e r t y taxes, including vehicle registration ..................................................... 6. _______________ .00 7. Other taxes. List the type and amount. ................................................................................. 7. _______________ .00 8. Add amounts on lines 4, 5, 6, and 7. Enter the total here. ............................................................................................... 8. _____________ .00 Interest You Paid 9a Home mortgage interest and points r e p o r t e d on federal f o r m 1098 .............................. 9a. _______________ .00 9b Home mortgage interest not r e p or t e d on federal f o r m 1098 ........................................... 9b. _______________ .00 10. Points not r e p o r t e d on federal f or m 1098 ......................................................................... 10. _______________ .00 11. Qualified mortgage insurance premiums ............................................................................. 11. _______________ .00 12. Investment interest. Attach federal f o r m 4952 if required. ................................................ 12. _______________ .00 13. Add lines 9a-12. Enter total here. ........................................................................................................................................ 13. _____________ .00 Gifts to Charity 14. Contributions by cash or check. ........................................................................................... 14. _______________ .00 15. Other than b y cash or check. You must attach federal form 8283 if more than $500. ..... 15. _______________ .00 16. Carryover from prior year (as adjusted for disallowance of Bonus Depreciation) ............ 16. _______________ .00 17. Add lines 14 through 16. Enter total here. ........................................................................................................................... 17. _____________ .00 Casualty/Theft Loss Job Expenses 18. Casualty or theft loss(es). Attach federal form 4684. ......................................................................................................... 18. _____________ .00 19. Unreimbursed employee expenses. Attach federal form 2106 or 2106-EZ if required. ... 19. _______________ .00 20. Tax preparation fees ............................................................................................................. 20. _______________ .00 21. Other expenses. List type and amount. ________________________________________ 21. _______________ .00 22. Add the amounts on lines 19, 20, and 21. Enter the total here. ......................................... 22. _______________ .00 23. Multiply the amount of federal form 1040*, line 38 as adjusted for disallowance of bonus depreciation, from line 14 of the IA 1040* by 2% (.02). Enter the result here. ............. 23. _______________ .00 24. Subtract line 23 from line 22. Enter the total. If less than z e r o, enter zero. ..................................................................... 24. _____________ .00 and Misc. Deductions Other Misc. Deductions Total Itemized Deductions 25. Other miscellaneous deductions not subject to 2% AGI Limit. List type and amount. ..................................................... 25. _____________ .00 26. If the amount on federal form 1040*, line 38 as adjusted for disallowance of bonus depreciation, from line 14 of the IA 1040 is $159,950 or less ($79,975 or less if married filing separately for federal tax purposes), add lines 3, 8, 13, 17, 18, 24, and 25, and enter the total here .................................... If the amount on federal form 1040*, line 38 as adjusted for disallowance of bonus depreciation, from line 14 of the IA 1040* is more than $159,950 ($79,975 if married filing separately for federal tax purposes), you must complete the Iowa Itemized Deductions Worksheet, IA 104, to calculate your total deductions. If using filing statuses 1, 2, 5, or 6, enter the amount on Step 7, line 39 of the IA 1040. 26. _____________ .00 Proration of Deductions Between Spouses Complete lines 27 t h roug h 31 ONLY if you are using filing status 3 or 4. SPOUSE YOU 27. Enter the Iowa net income of both spouses from IA 1040, line 26. ...................................... 27b. _____________ .00 27a. _____________ .00 28. Total Iowa net income, add columns 27a and 2 7b . Enter the total here. ......................................................................... 28. _____________ .00 29. Divide the amount on line 27a b y the amount on line 28. Enter the percentage here. .................................................... 29. ______________ % 30. Multiply line 26 by the percentage on line 29. Enter here and on IA 1040, line 39, Col. A ............................. (YOU) 30. _____________ .00 31. Subtract line 30 from line 26. Enter here and on IA 1040, line 39, Col. B. If y o u are using filing status 4, enter this amount on line 39, Col. A of y o u r spouse’s return. ............................................. (SPOUSE) 31. _____________ .00 41-004a (10/07/08) *If you filed federal 1040A, see line 21; if federal 1040EZ, see line 4.
Slide 24: Iowa Department of Revenue www.state.ia.us/tax Name(s) as shown on page 1 of the IA 1040 2008 IA 1040 Schedule B Interest and Dividend Income Social Security Number NOTE: You must report all taxable interest and dividends on IA 1040, even if you are not required to complete Schedule B. PART I: INTEREST INCOME You must complete this part if you received more than $1,500 in interest in 2008. Interest income which should be reported includes earnings from savings and loan associations, mutual savings banks, cooperative banks, credit unions, and bank deposits; State and municipal bonds (see instructions for IA 1040, line 2, Taxable Interest Income), and interest from tax refunds. Do not report interest from federal securities. For each payer, indicate the type of account. If the interest was earned by you, check the column labeled “Taxpayer.” If the interest was earned by your spouse, check “Spouse.” If the interest was earned jointly, check “Joint.” Check only one for each payer. Interest Income. List Names of All Payers. Name of Payer Check one for each payer Taxpayer Spouse Joint AMOUNT .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 Total Taxable Interest Income. Add the amounts; enter here and on IA 1040, line 2 ..................................................................... .00 PART II: DIVIDEND INCOME You must complete this part if you received more than $1,500 in gross dividends in 2008. Deduct that portion of any net dividend from mutual funds that is attributable to federal securities. For each payer, indicate the type of account. If the dividends were earned by you, check the column labeled “Taxpayer.” If the dividends were earned by your spouse, check “Spouse.” If the dividends were earned jointly, check “Joint.” Check only one for each payer. Dividend Income. List Names of All Payers. Name of Payer Check one for each payer Taxpayer Spouse Joint AMOUNT .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 .00 Total Taxable Dividend Income. Add the amounts; enter here and on IA 1040, line 3 ..................................................................... .00 41-004b (8/14/08)
Slide 25: Iowa Department of Revenue www.state.ia.us/tax 2008 IA 126 Iowa Nonresident and Part-year Resident Credit Social Security Number Name(s) as shown on page 1 of the IA 1040 MARK THE APPROPRIATE BOX FOR YOU AND YOUR SPOUSE You are a nonresident of Iowa You are a part-year resident of Iowa Date moved into Iowa: ______________________ and/or Date moved out of Iowa: _____________________ Your spouse is a nonresident of Iowa Your spouse is a part-year resident of Iowa Date moved into Iowa: ______________________ and/or Date moved out of Iowa: _____________________ YOU MUST FILE THIS FORM IF... • You are a nonresident of Iowa with income from Iowa sources, or • You are a part-year Iowa resident • Attach this form and a copy of your federal return to your Iowa return. (IA 1040) • Report only Iowa-source income on the IA 126. • You may benefit by using filing status 3 or 4. IOWA-SOURCE INCOME B. SPOUSE Filing Status 3 Only A. YOU OR JOINT 1. Wages, salaries, tips, etc. ............................................................................................................... 1 . __________________ .00 _________________ .00 2. Taxable interest income .................................................................................................................... 2. __________________ .00 _________________ .00 3. Ordinary dividend income ................................................................................................................ 3 . __________________ .00 _________________ .00 4. Alimony received ............................................................................................................................... 4 . __________________ .00 _________________ .00 5. Business income or (loss) ............................................................................................................... 5 . __________________ .00 _________________ .00 6. Capital gain or (loss) ........................................................................................................................ 6 . __________________ .00 _________________ .00 7. Other gains or (losses) .................................................................................................................... 7 . __________________ .00 _________________ .00 8. Taxable IRA distributions ................................................................................................................ 8 . __________________ .00 _________________ .00 9. Taxable pensions and annuities .................................................................................................... 9 . __________________ .00 _________________ .00 10. Rents, royalties, partnerships, estates, etc. .............................................................................. 10. __________________ .00 _________________ .00 11. Farm income or (loss) ..................................................................................................................... 11. __________________ .00 _________________ .00 12. Unemployment compensation ....................................................................................................... 12. __________________ .00 _________________ .00 13. Taxable Social Security benefits. ................................................................................................. 13. __________________ .00 _________________ .00 14. Other income, gambling income, bonus depreciation adjustment ......................................... 14. __________________ .00 _________________ .00 15. GROSS INCOME. ADD lines 1-14. .............................................................................................. 15. __________________ .00 _________________ .00 16. Payments to an IRA, KEOGH or SEP while an Iowa resident ................................................ 16. __________________ .00 _________________ .00 17. Deduction for self-employment tax ............................................................................................... 17. __________________ .00 _________________ .00 18. Health insurance deduction ........................................................................................................... 18. __________________ .00 _________________ .00 19. Penalty on early withdrawal of savings ....................................................................................... 19. __________________ .00 _________________ .00 20. Alimony paid ..................................................................................................................................... 20. __________________ .00 _________________ .00 21. Pension/retirement income exclusion .......................................................................................... 21. __________________ .00 _________________ .00 22. Moving expense deduction into Iowa only .................................................................................. 22. __________________ .00 _________________ .00 23. Iowa capital gains deduction ......................................................................................................... 23. __________________ .00 _________________ .00 24. Other adjustments ........................................................................................................................... 24. __________________ .00 _________________ .00 25. Total adjustments. ADD lines 16-24. ........................................................................................... 25. __________________ .00 _________________ .00 26. IOWA NET INCOME. SUBTRACT line 25 from line 15. ........................................................... 26. __________________ .00 _________________ .00 27. All-source net income from line 26, IA 1040 .............................................................................. 27. __________________ .00 _________________ .00 100.0% 100.0% 28. Iowa income percentage: Divide line 26 by line 27 and enter percentage rounded to the nearest tenth of a percent. This can be no more than 100.0% and no less than 0.0%. ..... 28. ___________________ % __________________ % . . . . 29. Nonresident/part-year resident credit percentage: Subtract the percentage on line 28 from 100.0%. .................................................................... 29. ___________________ % __________________ % 30. Iowa tax on total income from line 43, IA 1040 ......................................................................... 30. __________________ .00 _________________ .00 31. Total credits from line 49, IA 1040 ............................................................................................... 31. __________________ .00 _________________ .00 32. Tax after credits. Subtract line 31 from line 30. ........................................................................ 32. __________________ .00 _________________ .00 33. Nonresident/part-year resident tax credit. Multiply line 32 by the percentage on line 29. ........ 33. __________________ .00 _________________ .00 ENTER THIS AMOUNT ON LINE 51 OF IA 1040 41-126 (9/22/08)
Slide 26: Iowa Department of Revenue www.state.ia.us/tax 2008 IA 130 Iowa Out-of-state Credit Computation Social Security Number Name(s) as shown on page 1 of the IA 1040 GENERAL INSTRUCTIONS: Also see instructions for line 62, IA 1040. • Nonresidents of Iowa may not claim this credit. • Part-year residents of Iowa may claim this credit ONLY if any income earned while an Iowa resident was also taxed by another state or foreign country. • The tax imposed on your income is the tax shown on the income tax return you filed with that state or foreign country. • You must complete a separate IA 130 for each state or foreign country. NOTE: The credit or portion of the credit must not exceed the amount of the Iowa tax imposed on the same income which was taxed by the other state or foreign country. Shareholders of S corporations who have income from the corporation that was apportioned outside Iowa and not taxed by Iowa cannot claim an out-of-state credit on this income. SECTION I – FULL YEAR IOWA RESIDENTS ONLY Attach the following to your Iowa return: • This schedule: IA 130 • The income tax return you filed with the other state • If you are claiming the credit for taxes paid to a foreign country, include federal form 1116, Computation of Foreign Tax Credit if it is required with your federal return. If you were assessed a minimum tax or a special tax on a lump sum distribution by another state, see our Expanded Instructions on our Web site, www.state.ia.us/tax Name of State/Country that taxed income also taxed by Iowa: Spouse: _____________ You: ________________ Column B Spouse Status 3 Only Column A You or Joint 1. Amount of gross income you received that was taxed by Iowa and taxed by the other state/foreign country ............................................................................................. 1. __________________ .00 _________________ .00 2. Gross taxable income for residents from line 15, IA 1040 ......................................................... 2. __________________ .00 _________________ .00 3. Divide line 1 by line 2 and enter the percentage. Do not exceed 100.0%. ............................. 3. ___________________ % __________________ % 4. Tax from line 54, IA 1040 (less lump sum tax and minimum tax) ............................................. 4. __________________ .00 _________________ .00 5. Multiply line 4 by the percentage on line 3. ................................................................................... 5. __________________ .00 _________________ .00 6. Enter the tax imposed by the other state or foreign country. .................................................... 6. __________________ .00 _________________ .00 7. Enter the SMALLER of lines 5 or 6. This is your out-of-state tax credit. Enter this amount on line 62, IA 1040. ........................................................................................... 7. __________________ .00 _________________ .00 SECTION II – PART YEAR IOWA RESIDENTS ONLY 1. Amount of gross income you received while you were an Iowa resident Column B Spouse Status 3 Only Column A You or Joint that was taxed by Iowa and taxed by the other state/foreign country ..................................... 1. __________________ .00 _________________ .00 2. Gross taxable income for part-year residents from line 15, IA 126 .......................................... 2. __________________ .00 _________________ .00 3. Divide line 1 by line 2 and enter the percentage. Do not exceed 100.0%. ............................. 3. ___________________ % __________________ % 4. Tax from line 54, IA 1040 (less lump sum tax and minimum tax) ............................................. 4. __________________ .00 _________________ .00 5. Multiply line 4 by the percentage on line 3. ................................................................................... 5. __________________ .00 _________________ .00 6. Enter the tax imposed by the other state or foreign country. .................................................... 6. __________________ .00 _________________ .00 7. Enter the total amount of gross income taxed by the other state/foreign country. ............... 7. __________________ .00 _________________ .00 8. Divide line 1 by line 7 and enter the percentage. Do not exceed 100.0%. ............................. 8. ___________________ % __________________ % 9. Multiply line 6 by the percentage on line 8. ................................................................................... 9. __________________ .00 _________________ .00 10. Enter the SMALLER of lines 5 or 9. This is your out-of-state tax credit. Enter this amount on line 62, IA 1040. ........................................................................................ 10. __________________ .00 _________________ .00 41-130 (8/27/08)
Slide 27: Iowa Department of Revenue www.state.ia.us/tax Iowa Individual Income Tax Payment Voucher Instructions If you owe additional tax, enclose this voucher and payment with your tax return. If you have an electronic return or are otherwise mailing the voucher and payment separately from your return, send them to: Iowa Department of Revenue Iowa Income Tax - Document Processing PO Box 9187 Des Moines, Iowa 50306-9187 Make check payable to Treasurer, State of Iowa. Penalty for Failure to Timely File a Return: A penalty of 10% will be added to the tax due for failure to timely file a return if the return is not mailed by the due date and at least 90% of the correct tax is not paid by the due date. Penalty for Failure to Timely Pay the Tax Due: When the return has been filed timely, a penalty of 5% will be added to the tax due if at least 90% of the correct tax is not paid by the due date. Where the failure to file penalty and the failure to pay penalty are both applicable, only the failure to file penalty will apply. Interest: Taxes payable during calendar year 2009 are subject to interest at a rate of 0.7% per month, which accrues on unpaid tax from the due date of the deposit or return. Any fraction of a month is considered a whole month for purposes of computing interest. The interest rate varies on an annual basis. ePay (direct debit) through eFile & Pay is FREE! Arrange your payment to be withdrawn directly from your bank account. This is a secure system. www.state.ia.us/tax Iowa Department of Revenue Iowa Individual Income Tax Payment Voucher I PRINT your name (last, first, middle initial) Spouse's name (last, first, middle initial) Address (number and street, including apartment or rural route) City, state, and zip code Make check or money order payable to: Treasurer — State of Iowa 41-137 (10/02/08) Social Security Number Spouse's Social Security Number Amount of payment $ Daytime Telephone Number ( ) - IA 1040-V 2008
Slide 28: State of Iowa Department of Revenue Hoover State Office Building 1305 E Walnut, Des Moines IA 50319 PRSRT STD U.S. POSTAGE PAID STATE OF IOWA www.state.ia.us/tax eFile and ePay Leave the Paper Behind! Iowa eFile Options at www.state.ia.us/tax Quick Refund, Accurate Calculations, Proof of Acceptance, Free File Available Electronic Payment Options for paper filers and eFilers at www.state.ia.us/tax Direct Debit ePay through eFile & Pay is free! Credit Card A service fee is charged by Official Payments Corporation. Where’s My Iowa Refund? www.state.ia.us/tax 1-800-572-3944 (in Iowa) or 515-281-4966 Questions About Iowa Taxes? www.state.ia.us/tax 515-281-3114 or 1-800-367-3388 (Iowa, Omaha, Rock Island, Moline) idr@iowa.gov Questions About eFiling? Please Support These Checkoffs IA 1040: line 58 MAILING ADDRESSES Receiving Refund or No Tax Due Iowa Income Tax Refund Processing Hoover State Office Bldg Des Moines IA 50319-0120 515-281-8453 or 1-866-503-3453 idrefile@iowa.gov Hearing impaired TTY: 515-242-5942 Need Forms? VETERANS TRUST FIREFIGHTERS Paying Additional Tax Mail a check or money order with an IA 1040-V Payment Voucher Iowa Income Tax Document Processing PO Box 9187 Des Moines IA 50306-9187 www.state.ia.us/tax Mail: 1-800-532-1531 Fax: 1-800-572-3943 2008 Iowa Income Tax Returns are due April 30, 2009. FISH/WILDLIFE STATE FAIR Federal Tax Refund Amount Contact the IRS at 1-800-829-1040 or www.irs.gov