FOR IMMEDIATE RELEASE:
August 10, 2009

FOR INFORMATION CONTACT:
Douglas A. Ewald, Tax Commissioner
(402) 471-5604
David Dearmont, Ph.D., Research Administrator
(402) 471-5700

GENERAL FUND RECEIPTS — JULY, 2009

LINCOLN — July Gross Receipts: Tax Commissioner Doug Ewald reported Monday that gross General Fund receipts for July were $239 million, which is 1.9% below the certified forecast of $243 million.

• Gross Sales and Use:  3.4% below forecast
• Gross Individual Income:  0.5% below forecast
• Gross Corporate Income: 32.1% above forecast
• Gross Miscellaneous:  7.5% below forecast

July Tax Refunds: Tax refunds for July were $41 million, which is 6.0% below the certified forecast of $43 million.

July Net Receipts: Net receipts for July were $198 million, which is 1.0% below the certified forecast of $200 million.

• Net Sales and Use:   2.2% below forecast
• Net Individual Income:   2.1% above forecast
• Net Corporate Income: 10.9% above forecast
• Net Miscellaneous:   7.5% below forecast

The comparisons in this report are based on the revised forecast made by the Nebraska Economic Forecasting Advisory Board on April 23, 2009. This forecast was adjusted for legislation passed in 2009, divided into monthly estimates and certified to the Clerk of the Legislature by the Tax Commissioner and Legislative Fiscal Analyst on July 15, 2009.

Previous monthly press releases are found at http://www.revenue.nebraska.gov/research/gen_fund.html.

##

APPROVED:
Douglas A. Ewald
Tax Commissioner

DEPARTMENT OF REVENUE

Policy Division
Comparison of Actual and Projected General Fund Receipts for July 2009

JULY
ACTUAL
JULY
PROJECTED
DIFFERENCE PERCENT
DIFFERENCE
GROSS RECEIPTS
Sales & Use Tax
$144,616,165
$149,701,000
($5,084,835)
(3.4)
Ind Income Tax
69,960,684
70,292,000
(331,316)
(0.5 )
Corp Income Tax
8,788,995
6,651,000
2,137,995
32.1
Misc Taxes
15,178,775
16,417,000
(1,238,225)
(7.5)
Total Gross
$238,544,619
$243,061,000
($4,516,381)
(1.9)
REFUNDS
Total Refunds
$40,737,3802
$43,321,000
($2,583,620)
(6.0)
NET RECEIPTS
Sales & Use Tax
$113,975,549
$116,497,000
($2,521,451)
(2.2)
Ind Income Tax
63,159,144
61,887,000
1,272,144
2.1
Corp Income Tax
5,496,903
4,958,000
538,903
10.9
Misc Taxes
15,175,643
16,398,000
(1,222,357)
(7.5)
Total Net
$197,807,239
$199,740,000
($1,932,761)
(1.0)

Back to top of page