Iowa HF2482 exempts state income tax for certified public accountants conducting audits or examinations of governmental subdivisions.

Iowa HF2482 amends state tax code to exempt income received by certified public accountants who perform audits or examinations of governmental subdivisions. This exemption applies to both individual and corporate tax codes, sections 422.7 and 422.35. The bill also includes retroactive applicability, making the tax exemption effective for tax years beginning on or after January 1, 2026, and retroactively to tax years beginning on or after January 1, 2024.

Iowa HF2482 exempts state income tax for certified public accountants conducting audits or examinations of governmental subdivisions.

Iowa HF2482 amends state tax code to exempt income received by certified public accountants who perform audits or examinations of governmental subdivisions. This exemption applies to both individual and corporate tax codes, sections 422.7 and 422.35. The bill also includes retroactive applicability, making the tax exemption effective for tax years beginning on or after January 1, 2026, and retroactively to tax years beginning on or after January 1, 2024.