Economic Incentives & Tax Credits
High impact incentives for small businesses in Iowa
Iowa has developed a robust mix of industries from its strong agriculture foundation. Manufacturing is strong, and the financial services sector is thriving. In a state with world-renowned research institutions and robust innovation, Iowa bioscience companies are at the forefront of breakthroughs in plant, animal and human bioscience industries. Iowa is a right to work state with a low cost of doing business. The state's success may be partially because Iowa has a business climate that consistently ranks among the best in the nation. Or, it could be the legendary Midwestern work ethic, the abundant raw materials or access to markets that makes companies prosper.
Top tax incentive programs for small and medium-sized businesses in Iowa
Iowa Computers and Industrial Machinery and Equipment Special Valuation
Computers and industrial machinery and equipment acquired after 12/31/93 are exempt from tax.
Iowa Data Center Business Property Tax Exemption
Exemption for certain property other than land and buildings that is purchased by a data center business. This includes computers and equipment that are necessary for the maintenance and operation of a data center business.
Iowa Geothermal Heating & Cooling System Property Tax Exemption
Exemption for value added by any new or refitted construction or installation of a geothermal heating or cooling system on or after July 1, 2012, on property classified as residential.
Iowa Industrial New Jobs Training Program (260E)
The Iowa Industrial New Jobs Training Program assists businesses, which are creating new positions, with new employee training. Eligible businesses may be new, expanding their Iowa workforce, or relocating to the state.
High Quality Jobs Program (HQJP)
The HQJP provides tax incentives based on the qualifying investment made in job creation.
Research Activities Tax Credit and Supplemental Research Activities Tax Credit
The Iowa credit is based on the ratio of Iowa qualified research expenses, for research conducted in Iowa, over total qualified research expenses.
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Subcity empowers small businesses, CPAs, and finance professionals to identify and apply for economic incentives and tax credits. Each year, over $100 billion is allocated for incentives across local, state, and federal programs in the U.S. Unfortunately, a significant portion of this money goes unclaimed or to large corporations with teams of tax attorneys and legal experts.
Subcity utilizes a comprehensive database of incentives to connect small businesses with the programs that were designed to help them create jobs, invest in their communities, and grow their business. Subcity charges a 10-20% fee for the programs they successfully secure, ensuring zero risk for clients as payment is contingent on results. Subcity is on a mission to democratize access to capital for America’s small businesses and has already delivered tens of millions of dollars in tax incentives for clients across the country.