Iowa § 422.12B Earned income tax credit

Iowa Statutes

§ 422.12B — Earned income tax credit

Iowa § 422.12B

Title XFINANCIAL RESOURCES

Ch. 422INDIVIDUAL INCOME, CORPORATE, AND FRANCHISE TAXES

This text of Iowa § 422.12B (Earned income tax credit) is published on Counsel Stack Legal Research, covering Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Iowa Code § 422.12B (2026).

Text

1. a. The taxes imposed under this subchapter less the credits allowed under section 422.12 shall be reduced by an earned income credit equal to the following percentage of the federal earned income credit provided in section 32 of the Internal Revenue Code:

(1)For the tax year beginning in the 2013 calendar year, fourteen percent.

(2)For tax years beginning on or after January 1, 2014, fifteen percent. b. Any credit in excess of the tax liability is refundable. 2. Taxpayers affected by the allocation provisions of section 422.8 shall be permitted a deduction for the credit only in the amount fairly and equitably allocable to Iowa under rules prescribed by the director.

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1. a. The taxes imposed under this subchapter less the credits allowed under section
422.12 shall be reduced by an earned income credit equal to the following percentage of the
federal earned income credit provided in section 32 of the Internal Revenue Code:
(1) For the tax year beginning in the 2013 calendar year, fourteen percent.
(2) For tax years beginning on or after January 1, 2014, fifteen percent.
b. Any credit in excess of the tax liability is refundable.
2. Taxpayers affected by the allocation provisions of section 422.8 shall be permitted a
deduction for the credit only in the amount fairly and equitably allocable to Iowa under rules
prescribed by the director.