FOR IMMEDIATE RELEASE

FOR INFORMATION, CONTACT:
Tony Fulton, Tax Commissioner
402-471-5604

General Fund Receipts — July 2017

AUGUST 15, 2017 (LINCOLN, NEB.) — July Gross Receipts: Tax Commissioner Tony Fulton reports that gross General Fund receipts for July were $331 million, which is 2.6% below the certified forecast of $340 million.

• Gross Sales and Use:
    2.7% below forecast
• Gross Individual Income:
    0.1% below forecast
• Gross Corporate Income:
  17.4% below forecast
• Gross Miscellaneous:
    2.2% below forecast

July Tax Refunds: Tax refunds for July were $63 million, which is 2.0% below the certified forecast of $64 million.

July Net Receipts: Net receipts for July were $268 million, which is 2.8% below the certified forecast of $276 million.

• Net Sales and Use:
    2.0% below forecast
• Net Individual Income:
    5.2% below forecast
• Net Corporate Income:
    3.1% above forecast
• Net Miscellaneous:
    2.1% below forecast

The comparisons in this report are based on the forecast made by the Nebraska Economic Forecasting Advisory Board on April 26, 2017. This forecast was adjusted for legislation passed in 2017, divided into monthly estimates and certified to the Clerk of the Legislature by the Tax Commissioner and Legislative Fiscal Analyst on July 14, 2017.

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

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Nebraska Department of Revenue

Administrative Services Division
Comparison of Actual and Projected General Fund Receipts
for July 20171

  July
Actual
July
Projected2
Difference Percent
Difference
Gross Receipts
Sales & Use Tax
$193,071,105
$198,409,275
-$5,338,170
-2.7%
Ind Income Tax
88,076,478
88,133,860
-57,382
-0.1   
Corp Income Tax
12,896,021
15,616,915
-2,720,894
-17.4  
Misc Taxes
36,671,903
37,479,115
-807,212
-2.2   
     Total Gross
$330,715,508
$339,639,165
-$8,923,657
-2.6%
Refunds
     Total Refunds
$62,805,759
$64,107,222
-$1,301,463
-2.0%
Net Receipts
Sales & Use Tax
$144,944,040
$147,940,710
-$2,996,670
-2.0%
Ind Income Tax
75,625,933
79,764,950
-4,139,017
-5.2  
Corp Income Tax
10,667,929
10,351,280
316,649
3.1  
Misc Taxes
36,671,848
37,475,003
-803,155
-2.1  
     Total Net
$267,909,749
$275,531,943
-$7,622,194
-2.8%
1Totals may not add due to rounding.
2The projected amounts used in this comparison were set at the April, 2017 meeting of the Nebraska Economic
Forecasting Advisory Board, adjusted for legislation passed in 2017, and certified on July 14, 2017.