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Nebraska tax collections beat expectations by $35M in December
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Nebraska tax collections beat expectations by $35M in December

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Gov. Pete Ricketts outlined numerous priorities for his last year in office, including tax relief, funding for a new state prison, and a spending plan for federal pandemic relief funds.

Nebraska state government collected more tax revenue than expected in December, according to a report released Friday.

The Nebraska Department of Revenue reported state tax receipts of $510 million, which is 7.4% higher than the forecast of $475 million.

The department said net individual income, corporate income and sales and use taxes were all higher than projected, while net miscellaneous taxes came in lower.

Nebraska has collected $2.859 billion so far in the current fiscal year, which began July 1, 2021. That's 2.7% higher than the forecasted amounted $2.785 billion for this point in the year.

The projections were set by the Nebraska Economic Forecasting Advisory Board in October 2021. They're used by lawmakers and governors to determine how much money the state has at its disposal.

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