Iowa DOR Updates Income Tax Guidance on NCTI, FDDEI, GILTI, FDII

The Iowa Department of Revenue (DOR) updated its guidance to reflect federal changes enacted by Public Law 119-21 (OBBBA). The guidance explains Iowa’s treatment of Net CFC Tested Income (NCTI) for tax years beginning on or after Jan. 1, 2026, including its exclusion from the corporate income tax base. The guidance also confirms continued Iowa conformity with the federal deduction for Foreign-Derived Deduction Eligible Income (FDDEI). [Iowa Dep’t of Revenue, Tax Guidance, 06/11/26]