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

40 views

       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