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Guth on the Tax Bill Passage

The state legislature has passed a sweeping tax bill that will lower taxes for area residents. State Senator Dennis Guth explained that the state was able to do this because of several factors that came into play.

Guth believes that this new tax bill will do a lot for Iowa residents during this time of increasing inflation and instability in Europe and Asia.

Those who retired or are planning to retire will see immediate benefits from the new tax plan passed by the state legislature.

Farmers will have a choice between electing for that income tax relief or using it to exclude the net capital gains from the sale of farmland.

There are other tax benefits that are involved with this new legislation according to Guth.

The four-year plan has been hailed as welcome relief for area taxpayers as prices of goods and services are on the rise.

 

 

 

 

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