News

Iowa Tax Revenues Drop

Iowa Tax Revenues Drop

Photo: clipart.com

Net tax revenue for the State of Iowa dropped almost 24 percent in April compared to the same month last year, but Legislative Services Agency analyst Jeff Robinson says tax changes at the state and federal level caused the blip.


For the 2012 tax year, farmers got an extra month to file their income taxes, so most farm returns were filed in April of 2013, plus state lawmakers increased the Earned Income Tax Credit and created a new tax credit. Both of those actions decreased income tax payments to the state in the 2014 tax season. Robinson says state sales tax collections and individual income tax withholding both continue to grow.


Sales and use tax collections were up four-point-four percent in April compared to the same month last year. State income tax withholding was up nearly half a percent, a gain of 14 million dollars for the state treasury.

Recent Headlines

in Local

Historical Sites Eligible for Restoration Funding Assistance

Fresh
money 20

Private, public, and non-profit land owners are invited to apply for grants through the Deadwood Fund program.

in Local

Keystone XL Groundwork Continues

Fresh
CKnB1U-WwAEO4XD

The groundwork is still under way as Trans Canada waits for final approvals of its plans to build the Keystone XL crude oil pipeline.

in Local

South Dakota Congresswoman Against Iran Nuclear Deal

Fresh
Kristi Noem

As members of Congress continue to scrutinize and debate the nuclear deal struck with Iran, South Dakota Congresswoman Kristi Noem is in clear opposition to the deal.

in Local

Senate Passes Six Year Transportation Bill Extension

Fresh
Washington DC

The US Senate passed a six year extension of transportation funding, but there is no guarantee the House will go along.

in Local

Pallid Sturgeon Confirmed in Missouri River

Fresh
sturgeon

Information retrieved from some small fish show that habitat in the Missouri River may be helping an endangered species return.