Home Local News NEBRASKA COLLECTS MORE TAX REVENUE THAN EXPECTED

NEBRASKA COLLECTS MORE TAX REVENUE THAN EXPECTED

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Nebraska’s state government collected more tax revenue than expected in May.

The Department of Revenue reported Friday that the state received a net of $439 million, which is 11.3% above the official forecast of $395 million.

The department says net sales-and-use, individual and corporate income and miscellaneous taxes were all higher than expected for the month.

Nebraska’s net tax collections are also above projections for the current fiscal year that ends June 30th.

The state has collected nearly $4.37 billion as of May 31, which is 3.4% above the forecast of $4.22 billion.

The comparisons are based on the February predictions of the Nebraska Economic Forecasting Advisory Board.