Iowa Income Tax Calculator (2024)

Estimate your take-home pay and all taxes in Iowa for 2024!
Our Iowa Income Tax Calculator provides a fast, accurate breakdown of your federal, IA state, and FICA taxes, including deductions, dependents, and pay frequency. Instantly see your annual and per-paycheck results, interactive charts, and a transparent calculation process.
This tool gives you clarity on your net pay and tax obligations. Updated for 2024 brackets and rules.

Iowa Income Tax Calculator

Calculating for Tax Year 2024
Pre-Tax Deductions (Annual)

Understanding Iowa Taxes (2024)

Iowa is currently undergoing significant tax reform that is simplifying its income tax structure. This calculator helps estimate your take-home pay by considering state, federal, and FICA taxes.

Iowa State Income Tax

For 2024, Iowa has simplified its tax system to 4 brackets (down from 9 previously), with plans to eventually move to a flat tax system by 2026.

  • 2024 Tax Brackets: Iowa's system now has 4 brackets with rates from 3.75% to 4.4%. Notably, Iowa's system has lower rates for higher incomes.
  • Standard Deduction: $2,240 for Single/Married Filing Separately, $5,540 for Married Filing Jointly/Head of Household.
  • Personal Exemption Credits: Iowa offers a $40 tax credit for each person in your household (yourself, spouse, and dependents).

Iowa Tax Reform

Iowa is in the midst of a significant tax reform that began in 2022. The state is gradually reducing its tax brackets and rates, with the ultimate goal of implementing a flat 3.9% tax rate by 2026.

  • 2024 Rates: 3.75% (for incomes over $75,000), 4.00% ($30,000-$75,000), 4.25% ($6,000-$30,000), and 4.40% (first $6,000).
  • Future Changes: By 2026, Iowa plans to implement a single flat tax rate of 3.9% for all income levels.

Federal Income Tax

Your federal income tax is calculated based on federal tax brackets, your filing status, deductions (standard or itemized), and allowances claimed on your W-4 form. Pre-tax deductions like 401(k) or HSA contributions reduce your federal taxable income.

FICA Taxes (Social Security & Medicare)

FICA taxes fund Social Security and Medicare. These are typically withheld by employers.

  • Social Security: 6.2% on income up to the annual limit ($168,600 for 2024).
  • Medicare: 1.45% on all income. An additional 0.9% Medicare tax applies to income above certain thresholds ($200,000 for Single, $250,000 for MFJ).

Other Iowa Taxes (Not Calculated Here)

While this calculator focuses on income taxes, be aware of other taxes in Iowa:

  • Sales Tax: Iowa has a state sales tax rate of 6%, with an additional 1% local option sales tax in many areas.
  • Property Tax: Property taxes in Iowa are set at the local level and vary widely across the state.
  • Inheritance Tax: Iowa has an inheritance tax, but direct lineal descendants (children, grandchildren) are exempt.

Disclaimer: This information is for general guidance for the 2024 tax year and is not tax advice. Consult a tax professional for personalized advice.