State tax receipts for the month of August were up compared to the same month a year ago. Jeff Robinson of the Legislative Services Agency has crunched the numbers.
“Generally, things have gotten better, but they aren’t still running as well as they normally do,” Robinson says. “So good news in the short run, but we need more growth before things can be said to have turned around.”
Iowans paid eight percent more in personal income taxes last month compared to August, 2009. “Personal income tax was definitely up, not only this month but for the two months of the fiscal year so far and that is definitely good news,” Robinson says. “The only bad news would be it’s up over a very bad comparison…Receipts were very down last year.”
Sales and use taxes paid to the state increased by 1.7 percent in July and August. “Again, not a particularly high percentage growth, historically, but very good compared to the last 18 months,” Robinson says.
Robinson estimates there’s been a net increase in overall state tax receipts of 1.8 percent during the first two months of the state fiscal year, which began July 1, 2010.