3/22/21 – Iowa Lawmakers on Bill to Reduce State Inheritance Tax

Iowa lawmakers are working on a bill that would reduce the state inheritance tax.  State Senator Jeff Taylor says the inheritance tax affects most Iowans, because the eligibility threshold is so low.

Sen. Taylor was surprised by the level of support for the bill.

Testimony from one Democratic legislator helped explain her  opposition to the inheritance tax.

Iowa’s inheritance tax is not collected on estates passed on from parents to children, but is for estates bequeathed to more distant relatives.