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This State Just Eliminated Taxes on Retirement Income

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This State Just Eliminated Taxes on Retirement Income, By Chris Kissell. Iowa (The Hawkeye State) just passed a law that will eliminate income tax on all retirement income. Currently, Iowa’s individual income tax system is progressive, with rates ranging from 0.33% to 8.53%, depending on a taxpayer’s income level. Iowa Gov. Kim Reynolds has pushed for lower taxes during her tenure. “I’ve worked with the Legislature across multiple sessions to make transformative changes to our tax code, let Iowans keep more of their hard-earned money, and make our state more competitive.”, Iowa Gov. Kim Reynolds. Around 295,000 taxpayers will benefit from the end of taxes on retirement making Iowa the fourth-lowest individual income tax rate in the nation

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