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Nebraska state tax collections lower than expected in May | KTIC Radio

Nebraska state tax collections lower than expected in May

Nebraska state tax collections lower than expected in May

A new report says Nebraska state tax collections came in
lower than expected in May.

The Department of Revenue reported Friday that the state received net taxes of  $392 million, which is more than 4 percent below the state’s official certified forecast.

The report says net sales-and-use and individual income tax receipts were lower than expected, while net corporate and miscellaneous taxes came in higher.

Nebraska is still more than 1 percent above projections for the current fiscall ear, which ends on June 30.

The projections were set by the Nebraska Economic Forecasting Advisory Board in October.

Lower-than-expected revenue forced lawmakers to tighten the state budget earlier this year.

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