Agency Says State Revenues for Iowa Are Up

by Associated Press
January 31, 2013 1:23 PM


State revenues in Iowa were up last year.
 
The Iowa Legislative Services Agency reports tax receipts in December totaled about $625 million, an increase of about $37 million when compared to December 2011. That's up by 6.3 percent.
 
The agency says net revenue from state taxes collected in all of 2012 totaled about $7 billion. That's an increase of about $592 million when compared with 2011.
 
The agency says several factors contributed to the increase, including individual income taxes being up by more than $200 million. Corporate income taxes also were up about $159 million.
 
Cigarette and tobacco taxes were down by about $5 million.