Iowa tax collections grew faster than predicted
DES MOINES (AP) — Preliminary estimates show that tax collections in Iowa grew by 5 percent in the budget year that ended last week, a much larger increase than originally projected.
The Waterloo-Cedar Falls Courier reports that figures from the Legislative Services Agency show the growth was nearly double the 2.6 percent increase projected by a state panel.
Tax collections for the year that ended June 30 totaled more than $6.1 billion, up from $5.8 billion last year. Collections for personal income taxes and sales taxes rose modestly, while corporate income tax receipts jumped by 32 percent.
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