New Jobs Tax Credit

Workers conversing in the workplace

Topics:

Business Engagement

ASSISTING BUSINESSES AND EXPANDING EMPLOYMENT OPPORTUNITIES

This one-time, corporate income tax credit is available to participants in the New Jobs Training (260E) Program. Iowa offers this credit as an incentive for businesses that provide additional training to employees and expand their workforce.

  • Maximum tax credit in 2022 is $2,088 per new employee
  • Maximum tax credit in 2023 is $2,166 per new employee
  • Maximum tax credit in 2024 is $2,292 per new employee
  • Tax credit amount depends upon wages paid and the year in which the tax credit is first claimed
  • Unused tax credits may be carried forward for up to 10 years

Reference: Iowa Department of Revenue

WHO QUALIFIES

  • Must be entered in a New Jobs Training (260E) agreement
  • Must commit to expand their Iowa employment base by 10% or more

HOW DO I APPLY?

Tax credit may be claimed on Form IA 133 found on the Iowa Department of Revenue website.

RELATED PROGRAMS

CONTACT

Please contact Kevin Eppens, IWD 260 Program Manager, at the information below or fill out our program contact form.