Agency Says State Revenues for Iowa Are Up
DES MOINES, Iowa (AP) 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 Des Moines Register reports 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.