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Nebraska starts fiscal year with more revenue than expected | KRVN Radio

Nebraska starts fiscal year with more revenue than expected

LINCOLN, Neb. (AP) _ Nebraska has started a new fiscal year with $20 million more in state tax revenue than expected.

The Department of Revenue reported Wednesday that the state collected $280 million in net revenue in July, which is nearly 8 percent above the state’s certified forecast of $260 million.

The state projections were set by the Nebraska Economic Forecasting Advisory Board in February. A tax revenue shortfall earlier this year forced lawmakers to cut the state budget.

The report says net revenue from sales-and-use taxes and individual income taxes were higher than projected. Net revenue from corporate income and miscellaneous came in below projections.

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