Neb. Tax Collections Higher Than Expected in Feb.

Posted 7 months ago

By Associated Press

economy(AP) — A new report says Nebraska’s net tax receipts were 7.1 percent higher than expected in February.

The Nebraska Department of Revenue reported Wednesday that the state had $258 million in receipts. The certified forecast for the month was $241 million.

The revenue was boosted by higher-than-expected individual and corporate income taxes, and miscellaneous taxes. Sales and use taxes were lower than expected for the month.

Net tax receipts for the current fiscal year have totaled $2.5 billion so far, which is 3.4 percent above the state’s certified forecast.

The original estimates were approved in April by the Nebraska Economic Forecasting Advisory Board.