FOR IMMEDIATE RELEASE:
August 11, 2015

FOR INFORMATION CONTACT:
Leonard J. Sloup, Acting Tax Commissioner
402-471-5604

General Fund Receipts — July 2015

LINCOLN — July Gross Receipts: Acting Tax Commissioner Leonard J. Sloup reports that gross General Fund receipts for July were $303 million, which is 0.3% above the certified forecast of $302 million.

• Gross Sales and Use:
    0.6% below forecast
• Gross Individual Income:
    1.3% above forecast
• Gross Corporate Income:
  10.7% above forecast
• Gross Miscellaneous:
    2.7% below forecast

July Tax Refunds: Tax refunds for July were $52 million, which is 3.6% below the certified forecast of $54 million.

July Net Receipts: Net receipts for July were $251 million, which is 1.2% above the certified forecast of $248 million.

• Net Sales and Use:
    0.0% below forecast
• Net Individual Income:
    1.4% above forecast
• Net Corporate Income:
  20.6% above forecast
• Net Miscellaneous:
    2.7% below forecast

The comparisons in this report are based on the forecast made by the Nebraska Economic Forecasting Advisory Board on April 30, 2015. This forecast was adjusted for legislation passed in 2015, divided into monthly estimates, and certified to the Clerk of the Legislature by the Tax Commissioner and Legislative Fiscal Analyst on July 15, 2015.

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

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APPROVED:
Leonard J. Sloup
Acting Tax Commissioner

DEPARTMENT OF REVENUE

Policy Division
Comparison of Actual and Projected General Fund Receipts by Tax Type for July 20151

  July
Actual
July
Projected2
Difference Percent
Difference
Gross Receipts
Sales & Use Tax
$188,360,216
$189,566,336
-$1,206,120
-0.6%
Ind Income Tax
88,586,571
87,455,467
1,131,103
1.3  
Corp Income Tax
13,847,034
12,503,546
1,343,488
10.7  
Misc Taxes
12,145,746
12,478,360
-332,614
-2.7  
     Total Gross
$302,939,567
$302,003,710
$  935,857
0.3%
Refunds
     Total Refunds
$52,003,235
$53,966,124
-$1,962,889
-3.6%
Net Receipts
Sales & Use Tax
$145,971,923
$146,012,130
-$   40,207
0.0%
Ind Income Tax
80,093,341
78,995,217
1,098,1241
1.4  
Corp Income Tax
12,726,140
10,554,322
2,171,818
20.6  
Misc Taxes
12,144,929
12,475,916
-330,988
-2.7  
     Total Net
$250,936,332
$248,037,586
$2,898,746
1.2%
1Totals may not add due to rounding.
2The projected amounts used in this comparison were set at the April 30, 2015 meeting of the
  Nebraska Economic Forecasting Advisory Board and certified on July 15, 2015.