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Nebraska tax collections below expectations in March | KTIC Radio

Nebraska tax collections below expectations in March

Nebraska tax collections below expectations in March

Nebraska’s state tax collections fell far below expectations in March.

The state Department of Revenue on Friday reported net tax receipts of $306 million for the month, which is nearly 10 percent below the official certified forecast of $337 million.

The report says net sale and use tax collections were nearly 9 percent below projections; net individual income tax receipts were more than 2 percent below; net corporate income taxes were more than 35 percent below; and net miscellaneous income tax receipts were more than 4 percent below.

Net tax receipts for the whole fiscal year are still nearly 2 percent above projections. The current fiscal year ends June 30.

The comparisons are based on October estimates from the Nebraska Economic Forecasting Advisory Board.

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