Nebraska tax revenue up in first month of new fiscal year

LINCOLN, Neb. (AP) - State officials say Nebraska collected more tax revenue than expected in the first month of the new fiscal year.

The Department of Revenue reported Tuesday that July net tax receipts totaled $251 million, which is more than 1 percent higher than the state’s certified forecast of $248 million.

The report says net revenues from individual and corporate income taxes were higher than projected, while net sales-and-use and miscellaneous taxes came in lower.

The comparisons are based on the forecast made by the Nebraska Economic Forecasting Advisory Board in April 2015. It also accounts for bills passed in this year’s legislative session.

The state’s new fiscal year began on July 1.

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