A senior analyst in the legislative branch of state government is advising against over-reacting, but overall state tax revenues in Iowa took a nose dive in September…..
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That’s Jeff Robinson, a financial analyst who works in the Legislative Services Agency. Net state tax receipts in September were almost five percent below the revenue collected in September of last year…..
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Robinson is keeping an eye on the relationship between state income tax payments and state sales and use tax receipts. The key question? Why is growth in what Iowans are earning — seen in the growth of income tax payments to the state — NOT translating into more spending, which can be tracked by monitoring the taxes Iowans pay when buying goods and services.