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Nebraska tax collections beat projections in November

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Posted at 2:04 PM, Dec 15, 2021
and last updated 2021-12-15 15:04:59-05

LINCOLN, Neb. (AP) — State officials say Nebraska collected more state tax revenue than expected last month.

The state Department of Revenue reported net tax receipts of $546 million, which is 7.7% higher than the forecast of $506 million for the month. The state reported higher-than-expected revenues from net individual, sales-and-use and miscellaneous taxes.

Net corporate income tax revenue came in lower than projected. Nebraska has collected $2.349 billion so far in the current fiscal year, which began July 1. That’s 1.7% higher than the forecast of $2.31 billion at this point in the year. The comparisons are based on projections set by the Nebraska Economic Forecasting Advisory Board in October.