Des Moines, Iowa — A report on tax collections since July 1st of 2022 shows state revenue is up nearly two percent compared to the previous 10-month period.
In March, the State Revenue Estimating Conference predicted state tax revenue would drop by half a percent this fiscal year. The uptick in actual tax receipts happened despite the state paying out 107 million dollars more in state income tax refunds than it did through the end of April last year.
Jeff Robinson of the Legislative Services Agency says there’s been a bit of a slowdown in overall state tax collections since April 3rd, though. That includes a dip in sales tax payments to the state. Iowans who filed their 2022 state income tax returns by May 1st and are owed a refund should get it within the next two weeks according to Robinson.
