New Iowa Tax Laws 2024. Republican lawmakers gave initial approval monday to the governor’s individual income tax cut bill, though sen. Reynolds’ bill would speed up that process and make further cuts by dropping iowa’s income tax rate to a flat tax of 3.65% for 2024 and make the change.

The 2024 session of the iowa legislature recently concluded with the enactment of tax bills that, among other changes, accelerate the state’s move to a flat. Summarized below is a partial list of individual income tax law changes which are effective beginning in tax year 2023.