(Griswold) The Iowa lawmakers ended the 2021 session with a 64-page tax omnibus bill consisting of 28-separate divisions. Iowa House District 21 Representative Tom Moore of Griswold says the massive bill will greatly benefit Iowans.
“This is probably the most aggressive tax bill the State Legislature has ever seen,” said Moore. The Griswold Republican points to one of the divisions phasing out the State Inheritance Tax, a bill Representative Moore began working on three years ago.
“I can think of numerous individuals, for example, an uncle without a family, that couldn’t pass down his estate to nieces and nephews and other family members without having it subject to taxes. That just isn’t right,” said Moore.
The State Inheritance Tax will be phased out over the next five years at 20-percent per year. There will be no State Inheritance Tax imposed in 2025.
“This doesn’t pertain to the federal code, but it will be a huge thing for families, especially farm families passing on farmland,” stated Moore.
