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Nebraska tax collections above projections in September

Nebraska tax collections above projections in September

Nebraska state government collected more tax revenue than expected in September.

The Department of Revenue reported Tuesday that the state received $522 million in net revenue, which is 8.2% higher than the official certified forecast of $510 million.

The departments says net sales-and-use, corporate income taxes and miscellaneous taxes were all above projections. Net individual income tax receipts were roughly on par with projections.

Net tax receipts are also above projections for the current fiscal year, which began July 1.

The projections were set by the Nebraska Economic Forecasting Advisory Board in April. The board’s estimates play a key role in determining how much state money lawmakers have at their disposal for the budget.

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