A $243.4 million processing plant in northeast Iowa that s expected to crush nearly 40 million bushels of soybeans annually won $4.1 million in state tax credits Friday.
The Iowa Economic Development Authority board approved the funding for Shell Rock Soy Processing, with $2.25 million of the credits based on the size of the investment and the remainder as a sales tax refund on equipment purchases.
The board also approved incentives for two other projects. CJ Bio America near Fort Dodge will receive $675,600 in tax credits for a $20.5 million expansion and Sadler Power Train in Cedar Rapids will receive $31,500 in tax credits for a $2.1 million expansion. The projects each will create four new jobs.
Cedar Rapids $39 5M request to aid downtown developments advances
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For the second year in a row, April 15 doesn t loom so large.
Federal and state officials have pushed back the filing deadlines for income taxes again this year, giving filers, preparers and government employees more time to adjust to new rules responding to the COVID-19 pandemic. But importantly, those delays don t apply to every tax filer, so taxpayers need to stay up on the specific details of the new rules.
In addition to the adjusted deadlines, filers need to be aware of benefits the federal government created this year that can save them money. Some are one-time adjustments in response to the pandemic, giving filers a rare chance to save a little bit extra.