Jan 14, 2022

Nebraska tax collections beat expectations in December

Posted Jan 14, 2022 7:54 PM

LINCOLN, Neb. (AP) — Nebraska state government collected more tax revenue than expected in December.

The Nebraska Department of Revenue reports state tax receipts of $510 million, which is 7.4% higher than the forecast of $475 million.

The department says net individual income, corporate income and sales and use taxes were all higher than projected, while net miscellaneous taxes came in lower.

Nebraska has collected $2.859 billion so far in the current fiscal year, which began on July 1, 2021.

That’s 2.7% higher than the forecasted amounted $2.785 billion for this point in the year.

The projections were set by the Nebraska Economic Forecasting Advisory Board in October 2021.