By Rod Boshart, Special to the Globe Gazette
DES MOINES â Iowa posted double-digit growth in tax collections for fiscal 202,1 which probably will translate into a whopping state budget surplus once the books officially close in September, officials said Thursday.
The state treasury took in more than $8.1 billion for the 12-month period that ended June 30, a 16.3 percent increase that tallied nearly $1.14 billion more than fiscal 2020, according to a report from the nonpartisan Legislative Services Agency.
Because Iowa again delayed its income tax deadline and made other adjustments due to the COVID-19 pandemic, agency senior tax analyst Jeff Robinson said that total likely will be adjusted downward by several hundred million dollars by Sept. 30, but still will finish in double-digit growth in the range of $800 to $900 million compared with the prior fiscal year hard hit for months by the pandemicâs economic consequences.