Nebraska tax collections beat expectations in December

Nebraska News

LINCOLN, Neb. (AP) – Nebraska state government’s tax collections beat expectations once again last month.

The Department of Revenue said Wednesday that the state netted $473 million in tax revenue in December. That’s more than 12% higher than the state’s certified forecast of $421 million.

The boost was driven by net sales-and-use and corporate income taxes that were far higher than the state’s estimates. Net individual income and miscellaneous taxes came in below projections.

Net tax collections are also higher than expected in the current fiscal year, which ends June 30. The state has collected $2.49 billion so far, up from the projected $2.3 billion.

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