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Nebraska Tax Receipts Beat Projections
A new report shows Nebraska's tax receipts in the last fiscal year beat projections by nearly $105 million, roughly 3 percent higher than expected.
The state on Tuesday reported nearly $3.7 billion in tax receipts for the fiscal year that ended June 30. State officials had estimated that Nebraska would collect a little less than $3.6 billion over the course of the year.
The growth was driven heavily by corporate income tax receipts, which ended the fiscal year 17 percent higher than expected. Individual income taxes and sales-and-use taxes were only slightly higher than projected.
Nebraska Tax Commissioner Doug Ewald says he sees the numbers as a sign that the state's economy is continuing to improve after the recession. The additional revenue will help replenish the state's cash reserve.
© Associated Press
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