Good Afternoon,

Iowa Governor Kim Reynolds signed House File 2317 into law on March 1, 2022, enacting major tax reform. The bill includes many changes including lowering personal tax rates, exempting certain retirement income, modifying capital gain exclusions, adjustments to the research activities credit and provisions that allow for potential corporate tax rate reductions. 

Highlights of these changes can be found here. Feel free to reach out to your MHCS team if you have questions about these changes and how they may impact you specifically.

Sincerely,

MHCS