The month of August brings in more tax revenue than Nebraska state government expected

LINCOLN, Neb. (AP) – Nebraska state government collected more tax revenue than expected in August.

The state received a net total of $462 million in August, as reported by the state Department of Revenue.

The amount is nearly 5% higher than an initial forecast of $441 million.

The Department of Revenue said net sales, miscellaneous taxes, net corporate and individual income taxes all contribute to the increase of revenue. 

Net tax collections are also higher than expected in the current fiscal year that began July 1.

The forecast was set in April by the Nebraska Economic Forecasting Advisory Board.

The board’s projections help lawmakers and the governor determine how much money they have available for the state budget.

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