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Nebraska tax collections below expectations in March | KRVN Radio

Nebraska tax collections below expectations in March

Nebraska tax collections below expectations in March

Lincoln, Neb. — 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.

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