For Immediate Release
March 1, 2010

Iowa – Employment Limits Lifted From Portion of New Jobs Credit

Iowa – Employment Limits Lifted From Portion of New Jobs Credit

Iowa – Employment Limits Lifted From Portion of New Jobs Credit

The maximum cap of 30 jobs is lifted from the High Quality Job Creation Program. This Iowa tax incentive program provides Iowa income and sales tax credits based on the number of jobs created. Previously, for one tier of the program, the credit was limited to the creation of 16, but not more than 30, jobs. That language has been changed to “16 or more” jobs.

Under the program, the tax incentives are based upon the number of new high quality jobs created and the amount of qualifying investment made. Generally, the term “high quality jobs” is defined to mean jobs earning 130% of the average county wage, although a wage waiver may be requested.

If you would like additional information on this topic or have any questions, please contact the taxdesk@thesaltgroup.com

 

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