FOR IMMEDIATE RELEASE:
August 9, 2013

FOR INFORMATION CONTACT:
Douglas A. Ewald, Tax Commissioner
402-471-5604

General Fund Receipts — July 2013

LINCOLN — July Gross Receipts: Tax Commissioner Doug Ewald reported that gross General Fund receipts for July were $277 million, which is 0.8% above the certified forecast of $275 million.

• Gross Sales and Use:
    0.2% below forecast
• Gross Individual Income:
    6.5% above forecast
• Gross Corporate Income:
  11.8% below forecast
• Gross Miscellaneous:
    7.6% below forecast

July Tax Refunds: Tax refunds for July were $45 million, which is 8.8% below the certified forecast of $50 million.

July Net Receipts: Net receipts for July were $231 million, which is 2.9% above the certified forecast of $225 million.

• Net Sales and Use:
    0.3% below forecast
• Net Individual Income:
  11.7% above forecast
• Net Corporate Income:
    1.2% above forecast
• Net Miscellaneous:
    7.5% below forecast

The comparisons in this report are based on the forecast made by the Nebraska Economic Forecasting Advisory Board on April 25, 2013. This forecast was adjusted for legislation passed in 2013, divided into monthly estimates and certified to the Clerk of the Legislature by the Tax Commissioner and Legislative Fiscal Analyst on July 11, 2013.

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

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APPROVED:
Douglas A. Ewald
Tax Commissioner

DEPARTMENT OF REVENUE

Policy Division
Comparison of Actual and Projected General Fund Receipts by Tax Type for July 20131

  July
Actual
July
Projected2
Difference Percent
Difference
Gross Receipts
Sales & Use Tax
$173,590,706
$173,871,588
$-280,883
-0.2%
Ind Income Tax
80,052,303
75,135,320
4,916,983
6.5  
Corp Income Tax
13,008,792
14,747,615
-1,738,823
-11.8 
Misc Taxes
10,066,826
10,899,069
-832,243
-7.6  
     Total Gross
$276,718,627
$274,653,593
$ 2,065,035
0.8%
Refunds
     Total Refunds
$45,357,532
$49,724,057
$-4,366,525
-8.8%
Net Receipts
Sales & Use Tax
$137,603,596
$138,023,399
$-419,803
-0.3%
Ind Income Tax
71,647,162
64,117,534
7,529,628
11.7  
Corp Income Tax
12,043,610
11,905,160
138,451
1.2  
Misc Taxes
10,066,726
10,883,443
-816,716
-7.5  
     Total Net
$231,361,095
$224,929,536
$6,431,560
2.9%
1Totals may not add due to rounding.
2The projected amounts used in this comparison were set at the April 25, 2013 meeting of the
  Nebraska Economic Forecasting Advisory Board and certified on July 11, 2013.