Nebraska tax collections lower than expected in December

LINCOLN, Neb. (AP) - Nebraska state government collected about $14 million less than expected in December.

The Department of Revenue reported Monday that net receipts for the month totaled $369 million, which is nearly 4 percent below the state’s certified forecast of $383 million.

Net sales-and-use tax receipts were about 9 percent lower than expected, while individual income tax receipts were more than 3 percent lower. Net corporate income tax collections were 8 percent above the forecast, and net miscellaneous receipts were more than 18 percent below.

Department of Revenue economist Hoa Phu Tran says the lower-than-projected tax collections are largely driven by the slowdown in sales tax revenue, which is due to recent declines in farm income. Tran says the overall state economy appears to be faring well.

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

back to top