Home Family Lifestyle Nebraska tax collections beat projections in August - Hub News Report

Nebraska tax collections beat projections in August – Hub News Report



LINCOLN, Neb. (AP) — Nebraska government collected more tax revenue than expected last month, according to the state Department of Revenue.

The department on Wednesday reported net tax receipts of $547 million in August, which is 9% higher than the certified forecast of $501 million.

The number was driven by higher-than-expected collections of individual and corporate income taxes, sales-and-use taxes and miscellaneous taxes.

The projections were set by the Nebraska Economic Forecasting Advisory Board in April, adjusted for new laws passed in this year’s legislative session, and divided into monthly estimates.

Net general-fund tax collections are also higher than expected for the current fiscal year, which began July 1. The state has netted $858 million in the current fiscal year, which is 6.9% above the certified forecast of $803 million.



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