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Nebraska Tax Collections Higher Than Expected in January | KTIC Radio

Nebraska Tax Collections Higher Than Expected in January

Nebraska Tax Collections Higher Than Expected in January

Officials say Nebraska state government collected more tax revenue that projected in January.

The Nebraska Department of Revenue reports net tax collections of $453 million, which is 19.1% higher than the certified forecast of $380 million.

The department says net individual and corporate income taxes were higher than projected, as were net sales-and-use and miscellaneous taxes. Tax collections are also higher than expected in the current fiscal year, which began on July 1.

The state has collected $3.321 billion as of the end of January, which is roughly 9.3% higher than the certified forecast of $3.039 billion.

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

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