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Competitive Cost of Doing Business in the Quad Cities Region

Companies that relocate to the Quad Cities region can take advantage of its bi-state location to situate their business in the most favorable overall location.

  • Iowa’s corporate income tax rate is a progressive tax ranging from 6 to 12%.
  • There is no sales tax on machinery and equipment in Iowa.
  • The state of Illinois offers a corporate income tax rate of 7.75 percent.
  • Neither state has a personal property tax rate or corporate business or franchise tax.
  • The sales tax rate within the Quad Cities averages approximately 7%.

Below is a comparison of taxes in select states:

Unemployment Insurance Rate- New Employer Workers Compensation Rate Corporate Income Tax Rate

Iowa

1.10

1.88

6.0-12.0

Illinois

4.15

2.35

7.75

California

3.40

3.48

8.84

Indiana

2.50

1.06

7.5

Michigan

2.70

1.68

6.0

Minnesota

3.52

1.99

9.8

New York

3.40

2.75

7.1

Ohio

2.70

1.74

0.26

Pennsylvania

3.67

2.00

9.99

Wisconsin

3.60

1.92

7.9

Source: 50 State Comparison – IEDA; Tax Policy Center 2014; 2014 Oregon Workers’ Compensation Premium Study

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