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Nebraska tax collections surge nearly 10 percent in December | KRVN Radio

Nebraska tax collections surge nearly 10 percent in December

Nebraska tax collections surge nearly 10 percent in December

Nebraska’s state revenue tax collections surged in
December, possibly due to the federal tax package approved that month.

The Department of Revenue announced Friday that net tax receipts were nearly 10 percent higher than projections for the month. The state saw net tax collections of $415 million, which is $37 million more than the certified state forecast.

Net individual income tax collections were more than 16 percent higher than projections, and net sales-and-use tax revenue was 6 percent higher. Net corporate income taxes came in more than 2 percent higher than projected, while net miscellaneous tax revenue was more than 9 percent lower.

The governor’s office cited media reports that many Americans prepaid their taxes to take advantage of state and local tax deductions that the federal tax bill eliminated.

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