FOR IMMEDIATE RELEASE

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

General Fund Receipts — September 2017

October 13, 2017 (LINCOLN, NEB.) — September Gross Receipts: Tax Commissioner Tony Fulton reports that gross General Fund receipts for September were $513 million, which is 1.4% below the certified forecast of $520 million

• Gross Sales and Use:
    1.2% below forecast
• Gross Individual Income:
   5.6% below forecast
• Gross Corporate Income:
 31.5% above forecast
• Gross Miscellaneous:
 16.5% below forecast

September Tax Refunds: Tax refunds for September were $57 million, which is 8.7% below the certified forecast of $62 million.

September Net Receipts
: Net receipts for September were $456 million, which is 0.4% below the certified forecast of $458 million..

• Net Sales and Use:
    3.1% above forecast
• Net Individual Income:
    7.0% below forecast
• Net Corporate Income:
  39.6% above forecast
• Net Miscellaneous:
  17.6% below forecast

Fiscal Year Net Receipts: Net General Fund receipts for fiscal year 2017-18 were $1.129 billion, which is 1.7% below the certified forecast of $1.149 billion.

• Net Sales and Use:
    0.2% above forecast
• Net Individual Income:
    5.1% below forecast
• Net Corporate Income:
  30.8% above forecast
• Net Miscellaneous:
  10.7% 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 Fiscal Year 2017-2018*

 

Total
Actual Net
Receipts

Total
Projected
Net Receipts

Difference

Percent
Difference

Cumulative
Actual Net
Receipts

Cumulative
Projected
Net Receipts

Cumulative
Difference

Cumulative
Percent
Difference

July $267,909,749 $275,531,943 -$ 7,622,194 -2.8 $267,909,749 $ 75,531,943 -$ 7,622,194 -2.8
August 405,007,342 415,430,208 -10,422,866 -2.5 672,917,091 690,962,150 -18,045,060 -2.6
September 456,056,442 457,972,545 -$1,916,103 -0.4 1,128,973,533 1,148,934,696 -19,961,163 -1.7

 

Comparison of Actual and Projected General Fund Receipts by Tax Type
for September 2017 and Cumulative Fiscal Year 2017-2018*

 

September
Actual

September
Projected

Difference

Percent
Difference

Cumulative
Actual

Cumulative
Projected

Cumulative
Difference

Cumulative
Percent
Difference

Gross Receipts
Sales & Use Tax
$188,392,206 $190,719,035 -$ 2,326,829 -1.2 $ 565,827,774 $ 577,789,045 -$11,961,271 -2.1
Ind. Income Tax
234,418,184 248,298,680 -13,880,496 -5.6 586,779,572 606,659,335 -19,879,763 -3.3
Corp. Income Tax
60,950,799 46,355,480 14,595,319 31.5 81,276,388 71,804,240 9,472,148 13.2
Misc. Taxes
28,801,553 34,509,443 -5,707,890 -16.5 75,698,576 84,388,888 -8,690,312 -10.3
Total Gross
$512,562,743
$519,882,638
-$7,319,895
-1.4
$1,309,582,310
$1,340,641,508
-$31,059,198
-2.3
Refunds
Total Refunds

$56,506,300

$61,910,093
-$5,403,792
-8.7
$180,608,777
$191,706,812
-$11,098,035
-5.8
Net Receipts
Sales & Use Tax
$142,348,947 $138,003,240 $ 4,345,707 3.1 $  420,823,990 $  420,118,890 $   705,100 0.2
Ind. Income Tax
226,057,475 243,037,505 -16,980,030 -7.0 556,405,596 586,025,405 -29,619,809 -5.1
Corp. Income Tax
59,226,421 42,429,090 16,797,331 39.6 76,425,619 58,416,460 18,009,159 30.8
Misc. Taxes
28,423,599 34,502,710 -6,079,111 -17.6 75,318,328 84,373,941 -9,055,613 -10.7
Total Net
$456,056,442
$457,972,545 -$1,916,103
-0.4
$1,128,973,533
$1,148,934,696
-$19,961,163
-1.7


*Totals may not add due to rounding.