Nebraska Net Tax Receipts Below April Projections

By: AP
By: AP

A new state report says Nebraska's net tax collections in April fell more than 7 percent below projections.

The Department of Revenue said Thursday that net tax receipts for the month totaled $483 million. The Nebraska Economic Forecasting Advisory Board had set the official state estimate at $520 million.

The report says revenue from individual and corporate income taxes and sales-and-use taxes came in lower than projected. Miscellaneous taxes were higher than expected.

Renee Fry of the OpenSky Policy Institute, a Nebraska tax-policy think tank, says this year's tax receipts are still on pace to exceed earlier forecasts, but state revenue and the economy are still under-performing when compared to historic averages. Fry says that trend is likely to continue.

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