Des Moines, Iowa – Iowa Director of Revenue Kraig Paulsen has announced businesses in Iowa can continue to apply for a deferral of state sales and/or withholding tax.
Governor Reynolds announced the Iowa Small Business Relief Program - which included grants and tax deferrals - on March 23. The Department of Revenue administers the tax deferral part of the program. The first round stopped accepting applications on April 30.
Paulsen said the program is continuing with a second round of deferrals to provide ongoing flexibility for small businesses that have been affected by the COVID-19 pandemic. The second round will continue through June 30.
Businesses that have already submitted an application and have been accepted for the program will not need to re-apply. Information about the program can be found at tax.iowa.gov/COVID-19. The page contains the application, details about eligibility, important dates, and answers to frequently asked questions. New applicants will be notified by mail.
The second round of the Iowa Small Business Relief Tax Deferral program is available for tax periods beginning May 1, 2020 through Jun. 30, 2020, but note the program has different terms: