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Iowa is a state in the Midwestern United States, bordered by the Mississippi River to the east and the Missouri River and Big Sioux River to the west. It is bordered by six states: Wisconsin to the Northeast, Illinois to the East and Southeast, Missouri to the South, Nebraska to the West, South Dakota to the Northwest, and Minnesota to the North.
Iowa has a total area of 56,271 square miles (145,743 km²).
The United States Census Bureau estimates the population of Iowa was 3,155,070 as of 2019.
English is the most common language in Iowa, used by 94% of the population. After English, Spanish is the second-most-common language spoken in Iowa. The third-most-common language is German.
No other language is spoken by more than 0.5 percent of the Iowa population.
The Government of Iowa is the governmental structure as established by the Constitution of Iowa. Iowa government, as at the national level of government, power is distributed among three branches: legislative, executive, and judicial.
In 2019, the real GDP of Iowa was about 173.69 billion U.S. dollars. The GDP per capita of Iowa was $55,051 in 2019.
The top industries in Iowa are healthcare and social services (15.7%); wholesale and retail trade (14.5%); manufacturing (13.1%); and education (12.9%). The largest concentration of potential available labor is employed within the professional, paraprofessional and technical occupational category (32%).
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The business laws of Iowa are user-friendly and often adopted by other states as a standard for testing business laws. As a result, the business laws of Iowa are familiar to many lawyers both in the US and internationally. Iowa has a common law system.
One IBC supply incorporation in Iowa service with the common type Limited Liability Company (LLC) and C-Corp or S-Corp.
The use of the bank, trust, insurance, or reinsurance within the name of the LLC is generally prohibited as limited liability companies in most states are not allowed to engage in a banking or insurance business.
The name of each limited liability company as set forth in its certificate of formation: Shall contain the words "Limited Liability Company" or the abbreviation "L.L.C." or the designation "LLC";
No public register of company officers.
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How to start a business in Iowa, USA
Share Capital:
There is no minimum or a maximum number of authorized shares since Iowa incorporation fees are not based on the share structure.
Director:
Only one director required
Shareholder:
Minimum number of shareholders is one
Iowa company taxation:
Companies of primary interest to offshore investors are the corporation and the limited liability company (LLC). LLCs are a hybrid of a corporation and a partnership: they share the legal features of a corporation but may choose to be taxed as a corporation, partnership, or trust.
Local Agent:
Iowa law requires that every business have Registered Agent in the State of Iowa who may be either an individual resident or business that is authorised to do business in the State of Iowa
Double Taxation Agreements:
Iowa, as the state-level jurisdiction within the US, has no tax treaties with non-US jurisdictions or double tax treaties with other states in the US. Rather, in the case of individual taxpayers, double taxation is minimised by providing credits against Iowa taxation for taxes paid in other states.
In the case of corporate taxpayers, double taxation is minimised through allocation and appointment rules related to the income of corporations engaged in multi-state business.
To form an LLC in Iowa you will need to file a Certificate of Organization with the Iowa Secretary of State, which costs $50. You can apply online, by mail, or by fax.
To start a corporation in Iowa, you must file Articles of Incorporation with the Secretary of State. You can file the document online, by mail or by fax. The Articles of Incorporation cost $50 to file. Once filed with the state, this document formally creates your Iowa corporation.
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All of the income and expenses from your LLC are reported on your personal tax return, which is due on April 15.
Iowa Filing Due Date: Corporation income tax returns are due by April 30 — or by the last day of the 4th month following the close of the taxable year (for fiscal year filers).