Lincoln, Neb. — State tax revenues came in well below projections for the month of August with gross receipts of $686 million, just over 7 percent below the forecast for the month.
Net receipts were down 6.4 percent at $527 million, with net sales and use, and individual income taxes, coming in at 3.7 and 15.3 percent, respectively, under expectations.
Net sales and use taxes continued their trend of sub-par collections, having been at or above projections only twice this year.
Overall, net tax receipts for the 2024-25 fiscal year were at $833 million, which is four percent below the February forecast by the state Economic Forecasting Advisory Board.
