We picked food over clothes in the fourth quarter
BUSINESS RECORD STAFF Nov 4, 2015 | 5:03 pm
1 min read time
163 wordsAll Latest News, Economic DevelopmentWe apparently were either rummaging through the closet for last year’s summer clothes, bargain hunting or going slightly threadbare in the fourth quarter of the state’s fiscal year, according to sales tax data released today by the Iowa Department of Revenue.
On the other hand, we were fat and happy.
The state sales tax report shows a slight decline in the purchases of apparel, with sales tax collections dropping 0.16 percent to $15.27 million in the period that ended June 30, down from $15.3 million a year ago, the Department of Revenue said.
Taxes on food and drink increased 6 percent to $64 million from $61 million a year ago.
Sales tax collections increased in most categories, including building materials, home furnishings and motor vehicles.
As a business group, services collected the most taxes through the end of June, nearly $80 million, a 2.8 percent increase from the year-ago period.
Overall, tax collections increased to $581 million from $564 million last year.Read more
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