Net Tax Revenue Slightly Under Estimates In Dec, Still Well Above For Fiscal Year

       Net tax revenue in Nebraska came in slightly under projections in December, but the year-to-date figure for the fiscal year that began in July is still comfortably above estimates.

        The Nebraska Dept of Revenue reports net tax receipts of $436 million dollars in December. That’s $3.6-million or 8-10ths of 1% under the certified forecast.

      Individual income taxes were responsible for most of the loss, coming in $11-million or 5.2% below projections at $199.2-million. Sales and use taxes were also off, but by just 2.6% or $3.8-million at $138.8-million.

        Net corporate income taxes were$77.2-million –  16.1% or $10.7-million above projections – with miscellaneous taxes of $21.4-million bringing in $417,000 or 2% more than expected.

       Net tax receipts through the first half of the fiscal year are $2.86-billion dollars, $209.8-million or 7.9% over projections