Neb. tax receipts lower than expected in February

Tax Commissioner: Nebraska tax receipts in February came in below earlier projections

Associated Press

LINCOLN, Neb. (AP) -- Nebraska's net tax receipts in the month of February dipped below projections.

The state tax commissioner's office reported Monday that net receipts came in at $216 million, or more than 2 percent below the certified forecast of $221 million.

The report shows that net sales-and-use taxes were above projections. But corporate and individual income taxes and miscellaneous taxes all came in lower than expected.

The comparisons are based on a February 2012 forecast made by the Nebraska Economic Forecasting Advisory Board. The forecast was adjusted for legislation passed in 2012, divided into monthly estimates and certified in July to the Legislature.

The board met again last month, and revised its forecast upward by nearly $111 million. Only downward revisions to the forecast are certified.

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