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Controlling Your Taxes Your State Tax Obligations Iowa Taxes on Business Income in Iowa Franchise Tax in Iowa
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If your corporation in Iowa is a domestic corporation (a corporation organized in Iowa) or a foreign corporation (a corporation organized in a state other than Iowa), you must file a biennial report (i.e., every two years). The first report is due between January 1 and April 1 of the first even-numbered year following the calendar year in which a domestic corporation was incorporated or a foreign corporation was authorized to transact business. The biennial report, along with a $45 fee, is payable to the Secretary of State.
No such filing is required of limited liability companies.
In Iowa there is a bank corporation income tax that is sometimes referred to as the franchise tax. (See income taxes on business income for the details on the Iowa corporation income tax.)
