Iowa Admin. Code r. 701-602.9
Current through Register Vol. 47, No. 13, December 25, 2024
Where a financial institution claims the federal work opportunity tax credit as provided in Section 51 of the Internal Revenue Code, the amount of credit allowable shall be a deduction from Iowa taxable income to the extent the credit increased federal taxable income.
This rule is intended to implement Iowa Code sections 422.35 and 422.61.
Iowa Admin. Code r. 701-602.9
Editorial change: IAC Supplement 11/2/22