(Des Moines, IA) — The Legislative Services Agency reports that Iowa sales tax revenue fell significantly in July.
Agency spokesperson Jeff Robinson says that may be because consumer spending was so high in July of last year. Robinson says the drop could be an indicator that retail spending is returning to normal. Quarterly sales tax and income tax payments to the state were due July 31st.
Robinson says the slowdown is “rooted both in charges to the state accounting process and to the unusual nature of the national economy” as it emerges from the pandemic.
