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Nebraska state tax collections exceed projections in October

Nebraska state tax collections exceed projections in October

LINCOLN, Neb. (AP) – Nebraska state government once again collected more tax revenue than expected last month.

The Nebraska Department of Revenue reported Friday that the state received a net of $290 million in October, which is nearly 9% higher than the $266 million expected in an April forecast.

The department says net corporate and individual income taxes were higher than expected, as was net miscellaneous taxes. Net corporate income tax collections were nearly three times larger than expected.

Net sales-and-use taxes came in lower than projected for the month.
Tax collections have exceeded expectations the last several months. The state’s net tax receipts are nearly 7% higher than expected so far in this fiscal year, which began July 1.

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