General Fund Receipts through March 31

Iowa’s March 2018 net General Fund revenue was $163.4 million (-29.9%) below the March 2017 revenue level. Cash fiscal year-to-date net receipts are $265.4 million (5.1%) higher than FY 2017. According to Iowa LSA, three factors complicate month-to-month and year-to-date comparisons. Federal tax law changes have increases tax estimate payments. …

General Fund Receipts through February 28

Iowa’s February 2018 net General Fund revenue was $17.3 million (-2.7%) below the February 2017 revenue level. Cash fiscal year-to-date net receipts are $428.6 million (9.3%) higher than FY 2017. Accounting changes, deposit dates, and federal tax law changes are among the factors that complicate this month-to-month growth comparison. One major …

General Fund Receipts through January 31

Iowa’s January 2018 net General Fund revenue was $275.1 million above the January 2017 revenue level. Cash fiscal year-to-date net receipts are $446.1 million higher than FY 2017. Personal income tax +$274.4 MM Sales/use tax +$124.8 MM Corp tax +$39.3 MM Other taxes +$7.3 MM Other receipts +$9.1 MM Tax refunds not …

Reducing Government Spending: It Can Be Done

The state of Iowa is facing a tight budget. Although revenues at this time are not declining, Iowa’s revenues continue to be lower than projected. Some of the factors contributing to this include a decline in Iowa’s agricultural economy and the increasing consumer behavior of online purchases where sales taxes …

Lowering Rates is a Positive Trend in State Taxation

Several states are moving in the direction of lowering their tax rates to create economic growth. The trend among many states has been to lower both individual and corporate income taxes as well as business and property taxes. In 2016 several states cut taxes and many of those states were …

Fees in the State of Iowa: The Forgotten Rules, Regulations, and Costs on the Taxpayers

By John Hendrickson The Iowa Department of Revenue reports that 1,451 fees are imposed and collected by the State of Iowa.[1] These various fees are collected by state government agencies in Iowa. The taxpayers of Iowa, who just recently finished filing and paying their state and federal taxes, may not necessarily …