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Nebraska tax collections above projections in August | KTIC Radio

Nebraska tax collections above projections in August

Nebraska tax collections above projections in August

Lincoln, Neb. — Nebraska state government collected more tax revenue than expected in August.

The state Department of Revenue announced Friday that the state received a net total of $462 million last month, which is nearly 5% higher than its official forecast of $441 million.

The department says net sales-and-use and miscellaneous taxes came in higher than expected, as did net corporate and individual income taxes.

Net tax collections are also higher than expected in the current fiscal year that began July 1.

The forecast was set in April by the Nebraska Economic Forecasting Advisory Board. The board’s projections help lawmakers and the governor determine how much money they have available for the state budget.

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