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Nebraska state tax collections beat expectations in November

Posted: 4:08 PM, Dec 14, 2019
Updated: 2019-12-14 17:08:44-05
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LINCOLN, Neb. (AP) — Nebraska state government collected more tax revenue than expected last month, state officials said Friday.

The state Department of Revenue reported net tax receipts of $432 million in November, which is 6.6% above the certified projection of $405 million.

The department said net individual and corporate income tax collections were higher than expected. Net miscellaneous taxes beat expectations as well, but net sales-and-use taxes came in lower than projected.

The original projections were set by the Nebraska Economic Forecasting Advisory Board in April.

Net tax collections for the current fiscal year are above projections as well. Nebraska has collected more than $2 billion so far, about 6.7% above the certified forecast of less than $1.9 billion.