Nebraska tax collections beat expectations in March
LINCOLN, Neb. (AP) — Nebraska state government tax collections beat expectations in March, state officials said Thursday.
The Nebraska Department of Revenue reported net tax collections of $363 million for the month, which is 18.6% higher than the certified forecast of $306 million.
The increase was driven by higher-than-expected sales-and-use and individual and corporate income tax receipts. Miscellaneous tax receipts were lower than expected.
Tax collections are also up for the fiscal year, which ends on June 30. The state has netted $4.133 billion so far in the fiscal year, which is 15.6% above the state’s certified forecast of $3.574 billion.
The comparisons are based on the July forecast made by the Nebraska Economic Forecasting Advisory Board, an appointed group that predicts how much tax revenue the state will collect.