State of Iowa’s tax collections for past 12 months dip 7.1%

The most recent accounting shows total state tax collections dropped 7.1% in the past 12 months. According to the Legislative Services Agency’s Monthly Revenue Memo, much of that $629 million drop is due to a 77.8% decline in a “pass through entity” tax paid by the owners of Partnerships, S Corporations and Limited Liability Companies. […]

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