Iowa tax revenues up for past 12 months

DES MOINES (AP) ? Iowa tax revenues are up by 4.4 percent in the past 12 months.

The Des Moines Register says the Legislative Services Agency reported Tuesday that net revenue for the 12 months ending in March for all taxes totaled $6.4 billion. That?s an increase of about $271 million compared to prior 12 months.

The Register says annual revenue is now back at a level first reached in November 2007.

In the past 12 months, the individual income tax was up about 5 percent, while the sales and use tax grew by over 6 percent. Corporate taxes were down 7.7 percent. Fuel and gambling taxes posted a small increase, while the cigarette tax had no change.

For March 2011, net tax revenues were about $430 million, down slightly from March 2010.