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Nebraska net tax receipts higher than expected in January

LINCOLN, Neb. (AP) — Nebraska's net tax receipts were slightly higher than estimated in January.

The Department of Revenue said Wednesday that the state collected $372 million, which is nearly 2 percent higher than the certified forecast of $366 million.

Net individual and corporate incomes taxes were higher, as were net sales-and-use taxes. Net miscellaneous taxes were lower than projected.

The comparisons are based on the forecast made by the Nebraska Economic Forecasting Advisory Board in October. During that meeting, the board revised its current fiscal year forecast down by $70.9 million.

The forecasts play a key role in the state budget, determining how much money lawmakers have at their disposal. The forecasting board will meet again near the end of this month.

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