Nebraska Tax Collections Beat Expectations in December

Nebraska Tax Collections Beat Expectations in December
MGN/KNEB
January 15th, 2022 | Associated Press

LINCOLN, Neb. (AP) — Nebraska state government collected more tax revenue than expected in December, according to a report released Friday.

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

The department said 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. They’re used by lawmakers and governors to determine how much money the state has at its disposal.

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