(Des Moines, IA) — After the pandemic hit the Iowa economy a year ago, state tax receipts now are soaring. The state’s fiscal year ends June 30th. Net tax revenue for the state of Iowa in the past 11 months is more than seven-point-three billion dollars. That’s about a billion dollars more than the same 11 month period in the previous fiscal year. Consumer spending is up. Sales and use tax payments to the State of Iowa jumped 10 percent from July through the end of last month. Corporate income tax payments to the state more than doubled and personal income tax payments were up nearly 16 percent.
Wed. Morning News
