Opportunity Details
The Iowa Research and Development Tax Credit (R&D) is an annual tax credit based on qualified expenses as allowed under section 26 USC 41 of the Internal Revenue Code (IRC). Businesses must first be certified by the Iowa Economic Development Authority (IEDA) as a qualified target industry to apply for the credit. The Authority will allocate available tax credits on a pro rata basis to businesses actively investing in innovation that occurs within the State of Iowa. Tax credits are refundable, but not transferable.
Application Process
Register with ID.me for user verification.
Create an individual and organization profile within IEDA's Opportunity Iowa Portal.
Submit an application for certification – a confidential review of eligibility as a qualified business.
Submit an application for tax credit – applications are due January 31 annually.
IEDA Director approval – IEDA will allocate available tax credits on a pro rata basis to businesses actively investing in innovation that occurs within the State of Iowa.
Submit through the online portal. Both applications for certification and tax credit are managed online.