Low Taxes in Winnebago and Worth Counties
Businesses locating in Winnebago and Worth counties benefit from our low tax rates. Lower taxes reduce operating costs to ensure that businesses located here have more money for things like expansion.
In addition, there are incentives that may be used to make it even more financially attractive to locate here.
- Single-factor, non-unitary tax is based only on the percentage of net sales income within the state.
- 50 percent deductibility of federal taxes from Iowa corporate income.
- Iowa corporate income tax may be reduced or eliminated by state tax credit programs.
- No personal property tax for corporate inventories of goods-in-process, raw materials or salable goods.
- No property tax on industrial machinery, equipment or computers.
- No sales or use tax on purchases of industrial machinery, equipment and computers used for manufacturing or to process data by insurance companies, financial institutions or certain commercial enterprises.
- No sales tax on materials used in the manufacturing process or purchases of electricity or natural gas used directly in the manufacturing process.