Thu 30 Jul 2015 | By:

Iowa Business Taxes (Everything You Need to Know)

Small Business Taxes

One of the most important things to remember when registering a business (LLC, Corporation, DBA, etc) in Iowa is to take care of legal requirements, most importantly your business taxes.

Keep in mind that complying with Iowa business taxes now will ensure that you won’t run into some problems in the future, at worst your business being closed down.

Don’t worry, though. In this article I will point you in the right direction on how to handle your business tax requirements in Iowa. After that, I’ll introduce you to my 2 favorite resources for keeping taxes and finances under control.


General Iowa Business Information and Links

For comprehensive information and procedures on how to go about with your Iowa business taxes, check the Iowa Department of Revenue. Everything you need to know about business tax requirements, from business registration to tax permits is contained in this website.

Iowa Business Income Tax

When starting a business in Iowa, you first have to choose your business’ structure and incorporate it. When you’ve accomplished this, the next step is to understand and comply with your Iowa business income taxes. Check this Iowa business tax guide to help you get started on your tax forms and requirements.

Iowa Employer Withholding Tax Obligations

If your business needs an employee (or more than one), there are specific legal obligations you need to follow. The Iowa Withholding Tax Information Booklet found in the state’s Department of Revenue is a goldmine on how to handle all these tax obligations. Trust me, this is important.

Iowa Sales and Use Tax

Aside from the income tax mentioned above, making sure that you are 100% compliant on sales and use tax is also necessary for your Iowa business. Use the Iowa Sales and Use Tax Guide as a general standard on how to do this.

Frequently Asked Iowa Business Tax Questions

Your mind might have a little bit of trouble processing all these tax forms and requirements you have to accomplish, but don’t worry. The Frequently Asked page found on the state’s Department of Revenue website has links to the most common questions you have about Iowa business taxes. If you don’t see your question, just find the nearest “Contact” button and ask it there.


1 Tool That Makes Your Iowa Business Tax Life Easier

Startup Tools and ResourcesKeeping your taxes and finances under control is not without its challenges, but there are some resources and tools that do make your life a lot easier!

This tool is not a required, but it will help you save money, time, and manpower in the long run. This means that you can spend more time doing the things you love, while having a well-organized business.

A Small Business Accounting Software

FreshBooks, Xero, and QuickBooks are small business accounting softwares that will simplify the accounting process for you. They help you keep track of your finances, taxes, and expenses – on a budget. Visit each review and start a free trial to see which is right for you.

Please note that this article is not meant to be legal advice on how to go about your Iowa business taxes. This serves as an informational reference only. For questions and specifics about different business taxes or starting a new business, check or talk to an accountant.

About Liesha Petrovich

Liesha is a small business owner of 20 years, host of Startup Savant, the owner of a karate dojo in Maine, and creator of Work Mobly. During free time she's with her family and working on a Doctorate in Entrepreneurship.