701—40.1 (422) Net income defined. Net income for state individual income tax purposes shall mean federal adjusted gross income as properly computed under the Internal Revenue Code and shall include the adjustments in 40.2(422) to 40.9(422). The remaining provisions of this rule and 40.12(422) to 40.72(422) shall also be applicable in determining net income.
This rule is intended to implement Iowa Code section 422.7.