Home Truck Gear Sales tax revenues drive Nebraska's tax collections higher than expected for August...

Sales tax revenues drive Nebraska’s tax collections higher than expected for August | Regional Government

Nebraska collected nearly $68 million more in net tax revenue than projected for August, according to figures released Tuesday by the state Department of Revenue.

The higher-than-expected revenues reflects the state’s economic strength, despite the disruptions caused by efforts to control the coronavirus, a spokeswoman said.

“It’s indicating that Nebraska is weathering the pandemic well,” said Lydia Brasch, the department spokeswoman. 

Nebraska tax receipts for fiscal year finish even with forecast despite pandemic

The biggest boost came from sales taxes, with gross receipts coming in at nearly $40 million for the month — 19.2% higher than the most recent forecast. Brasch said one sales tax payment accounted for about half of that amount.

Even without that payment, the gross sales tax receipts were 10% higher than last year. She said sales tax receipts have been strong across the country, as Americans have been buying more durable goods. 

Individual income tax collections also came in strong, with gross receipts at 10.1% above the forecast. Gross corporate income tax revenues were 57.1% below expectations, however.

Nebraska economic forecast down, but not as much as expected

Legislative wrap on some bills that passed, others that died

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