Nebraska tax collections below expectations in March
LINCOLN, Neb. (AP) — Nebraska’s state tax collections fell far below expectations in March.
The state Department of Revenue on Friday reported net tax receipts of $306 million for the month, which is nearly 10 percent below the official certified forecast of $337 million.
The report says net sale and use tax collections were nearly 9 percent below projections; net individual income tax receipts were more than 2 percent below; net corporate income taxes were more than 35 percent below; and net miscellaneous income tax receipts were more than 4 percent below.
Net tax receipts for the whole fiscal year are still nearly 2 percent above projections. The current fiscal year ends June 30.
The comparisons are based on October estimates from the Nebraska Economic Forecasting Advisory Board.