Tax revenue in Iowa exceeded projections by $54.5 million for the fiscal year ending June 30, 2011, according to a report released by the Legislative Service Agency. From Radio Iowa:
State tax receipts grew by six percent in the year-to-year comparison.
Personal income tax payments to the state grew by seven percent for the fiscal year, while sales tax collections increased by nearly four percent. The final analysis on net revenue for the 12-month-long state fiscal year won’t be available until the end of September.
“This blog post, along with comments that may follow, should not be considered tax advice. Before you make final tax or financial decisions, please secure a professional tax advisor to give you advice about your unique situation. To secure Jason as your accountant, please click on the ‘Services’ link at the top of the page.”