Proyectos de ley › 90.ª Asamblea General
Excluding from the individual income tax certain direct trustee-to-trustee transfers from educational savings plan trust accounts to Roth individual retirement accounts, and including retroactive applicability provisions
Temas:TaxesIncome taxes
Dónde está ahora
- Hecho: Presentado25 de enero de 2024
- Se detuvo: SubcomitéMurió al terminar la Asamblea General
- Sigue: Comité de la Cámara
- Sigue: Lo aprueba la Cámara
- Sigue: Comité del Senado
- Sigue: Lo aprueba el Senado
- Sigue: A gobernador(a)
- Sigue: Firmado como ley
Murió al terminar la sesión La sesión de 2024 terminó el 19 de abril de 2024, la última sesión ordinaria de la Asamblea General. Los proyectos que no pasaron por ambas cámaras murieron. ¿Qué es el embudo (funnel)?
Qué contiene
Resumen con IA People who move money from a 529 college savings account into a Roth retirement account will not have to pay Iowa state income tax on that money. To qualify, the 529 account must have been open for at least 15 years and the transfer must follow certain federal limits. This change applies to tax years starting on or after January 1, 2024. (Todavía no está traducido al español.)1
Lea la explicación oficial (en inglés)
Under the federal Consolidated Appropriations Act, 2023, Pub. L. No. 117-328, transfers from a 529 educational account to a Roth individual retirement account beneficiary are exempt from federal taxation, subject to Roth contribution limits and the aggregate lifetime limit of $35,000, and if the 529 educational account has existed for at least 15 years. This bill also makes such a transfer exempt from state individual income taxation. The bill applies retroactively to tax years beginning on or after January 1, 2024.