AP - Nebraska government tax collections surged well above projections in May, with the state collecting $297 million more than expected.
The Nebraska Department of Revenue reports net tax receipts $720 million, which is more than 70% higher than the official forecast of $423 million.
The increase was driven by corporate income tax collections that were 375% above the certified state forecast and individual income tax collections that were 97% above the forecast.
Net sales-and-use and miscellaneous tax receipts were 14.9% and 30.9% higher, respectively.
Net tax collections are also higher than expected in the current fiscal year, which ends this month.