Nebraska Net Tax Receipts Surprisingly Low

A new report says Nebraska's net tax receipts in May came in lower than projected. The Department of Revenue said Tuesday that net tax receipts for the month totaled 333 million dollars, which is nearly 5 percent below the state's certified forecast. The forecast said the state would net an estimated 349 million dollars. According to the report, individual income and sales-and-use tax revenue came in lower than expected. Corporate income and miscellaneous tax revenues were higher than projected. Net receipts for Nebraska's current fiscal year are still nearly 2 percent higher than the forecast.