Nebraska’s net state revenue in September was $729-million dollars, topping the projections by $110-million or 17.8%. All 4 tax categories were higher than expected.
Net Individual Income Taxes came in at $332.7-million, 3.1% or $10.1-million more than estimates while Sales and Use Taxes beat estimates for the first time since the fiscal year began in June with $216.3-million for a surplus of $24.8-million or 12.9%.
Leading the way by percentage were Miscellaneous Taxes, the smallest category. They totaled $35-million to top projections by 93.8% or $17-million dollars. Corporate Income Taxes beat estimates by $58.2-million or 67.1% at $144.8-million.
Total net revenue after the first 3 months of the fiscal year is $1.63-billion dollars, $140-million or 9.4% above the official estimate set in July by the Nebraska Economic Forecasting Advisory Board and $144.2-million more than last year
Individual Income Taxes have brought in $783.9-million dollars, 5.5% above projections, while Sales and Use Taxes are up 3.4% at $616-million.
Corporate Income Taxes are racing 56.7% ahead of estimates with $165.9-million, and Miscellaneous Taxes have contributed $62.1-million, 44.8% above the forecast.
Governor Pete Ricketts issued a statement saying “Nebraska’s growth continues to be incredibly strong, creating opportunities for our families to enjoy the Good Life.”
Ricketts said the state is able to make strategic investments in infrastructure not only without taking on debt but also building the largest rainy day fund in state history.
so that means that they are going to keep getting more taxes and spending more and KEEP spending and spending and spending until we cant afford to live in nebraska anymore!!!!!!