Nebraska Net Tax Revenue In Nov $85.6-M Or 21.6% Above Projections

      Nebraska collected nearly 22% more revenue than expected in November and is more than 9% above projections for the current fiscal year. 

      The state Dept of Revenue says Nebraska received $482 million last month, $85.6-million more than the original forecast set in August. 

      The increase was driven largely by higher-than-expected net sale-and-use tax revenue and net individual income tax revenue. 

       Sales taxes were projected to bring in $127-million but were instead $153.5-million while individual income taxes produced $311-million, $59.9-million above estimates.

     Net miscellaneous revenue also came in higher, $11-million versus $10.5-million, but corporate income taxes fell $1.4-million or nearly 18% below what was expected.

      Net revenue after the first 5 months of the fiscal year is $2.43-billion dollars, 9.6% or $213-million more than the original forecast.

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