Nebraska net tax receipts are slightly above projections for the fiscal year, according to a report from the state Department of Revenue. The report says receipts are up 1.4% of projections, to the tune of about 62 million dollars. Tax Commissioner Tony Fulton says the good news is driven mostly by increased individual income tax collections.
Fulton says more Nebraska workers are earning more money and their wages are comparatively higher. it’s not all good news, however. Fulton says low commodity prices in the ag sector could spell bad news in the future.
Earlier state revenue shortfalls forced Nebraska lawmakers to cut the state budget during this year’s legislative session.
