NE Tax Collections Below Projections in December
LINCOLN, Neb. (AP) – Nebraska state government collected less tax revenue than expected in December. The Nebraska Department of Revenue reported Tuesday that net receipts for the month totaled $387 million, which is nearly 9 percent below official state estimates of $425 million. The monthly report says net sales-and-use, individual income and miscellaneous taxes were all below projections. Net corporate income taxes were higher than expected for the month. The projections were set in February by the Nebraska Economic Forecasting Advisory Board and adjusted for new legislation that passed last year. Nebraska State Tax Commissioner Tony Fulton says December’s tax collections were low in part because the department issued a large number of refunds that month. He says the state is still close to projections in the current fiscal year.
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