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Tax CreditIowaActiveVerified

Iowa Targeted Jobs Withholding Tax Credit Program

Iowa Economic Development Authority (IEDA)IA-TJWTCRefreshed 12 days ago
Do I qualify?
Who can apply

Businesses, Gov entities

Government-funded

Max funding

Varies

Amount varies

Type

Tax Credit

Reduces tax liability

Deadline

Rolling

No fixed cutoff

Timing

Annual tax return

Claim with year-end filing

Complexity

Moderate

File with tax return

About This Program

Local option withholding tax credits for businesses creating jobs in Iowa cities that have adopted the program, allowing municipalities to offer additional incentives to attract employers.

Key Requirements & Eligibility

  • 1Business must be creating new jobs in a city that has adopted the TJWTC program
  • 2Must create minimum 10 new full-time jobs
  • 3Jobs must pay above county average wage with benefits
  • 4City retains portion of employee withholding as matching local incentive
  • 5State credit layered on top of city incentive for eligible businesses

Do I qualify?

Answer the questions below for a rules-based self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.

0 of 5 answered

1.Business must be creating new jobs in a city that has adopted the TJWTC program

2.Must create minimum 10 new full-time jobs

3.Jobs must pay above county average wage with benefits

4.City retains portion of employee withholding as matching local incentive

5.State credit layered on top of city incentive for eligible businesses

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Official Source