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Iowa Senate considers bill to eliminate state’s inheritance tax

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January 29th, 2021 by Ric Hanson

(Radio Iowa) – A bill advancing in the Iowa Senate would eliminate the state’s inheritance tax, a move that’s being backed by the Iowa Cattlemen’s Association. Cora Fox, the association’s government relations director, says the inheritance tax has long been a burden for many Iowans, particularly farmers and ranchers.

Fox says her group is encouraged by the bill’s progress in the Senate.

In addition to impacting farmers and ranchers, Fox says Iowans not involved with agriculture are also adversely affected by the tax.

The bill unanimously passed a subcommittee and will advance to the full Senate Ways and Means Committee. Chairman Dan Dawson, a Republican from Council Bluffs, says he expects elimination of the inheritance tax to be incorporated into a larger tax policy bill that will be taken up later this session.