Nebraska state tax collections beat expectations in January

LINCOLN, Neb. (AP) — Nebraska state government collected $45 million more than expected last month, according to new numbers released Monday.
The Nebraska Department of Revenue reported net tax collections of $495 million in January, which is 10% than the state forecast of $450 million.
Nebraska reported higher-than-expected net revenues from individual income taxes and miscellaneous taxes, but lower-than-expected net receipts from sales-and-use taxes and corporate income taxes.
The state has received $3.354 billion in the current fiscal year, which began July 1. That’s 3.7% higher than the state projection of $3.235 billion at this point in the year.
The comparisons from the report are based on estimates approved by the Nebraska Economic Forecasting Advisory Board in October. The board’s forecasts are used to estimate how much state revenue lawmakers and governors will have at their disposal.