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I've tried state corporation taxes, they're not worth it

February 18, 2009

Mike Ralston, Former Director of the Iowa Department of Revenue, in the comments yesterday:

I believe (and I did even when I was the director of the Iowa Department of Revenue) Iowa should repeal its corporate income tax. The tax does not bring in enough revenue to justify the large amount of money spent in tracking and ensuring compliance. Sales and use taxes are much more important sources of revenue for our state.

Related: STATES COPING WITH BUDGET CRISES: COMPARE AND CONTRAST

Tags: iowa tax policy.

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