LINCOLN, Neb. (AP) — Nebraska is on pace to collect less tax revenue than expected in the current fiscal year.
A Department of Revenue report released Monday says the state has received about $3.89 billion as of May 31, which is nearly 2 percent below the state's certified forecast for the year. The current fiscal year ends June 30.
Net tax receipts in May totaled $379 million, which was roughly on par with estimates for the month. Net sales-and-use and miscellaneous tax receipts came in below projections, while individual and corporate income tax revenue was higher than expected.
The comparisons are based on the forecast made by the Nebraska Economic Forecasting Advisory Board in October.
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