FOR IMMEDIATE RELEASE

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

General Fund Receipts — September 2018

OCTOBER 15, 2018 (LINCOLN, NEB.) — September Gross Receipts: Tax Commissioner Tony Fulton reports that gross General Fund receipts for September were $566 million, which is 7.0% above the certified forecast of $529 million.

• Gross Sales and Use:
    0.3% below forecast
• Gross Individual Income:
    7.9% above forecast
• Gross Corporate Income:
  37.8% above forecast
• Gross Miscellaneous:
    4.7% below forecast

September Tax Refunds: Tax refunds for September were $56 million, which is 13.3% below the certified forecast of $65 million.

September Net Receipts: Net receipts for September were $510 million, which is 9.9% above the certified forecast of $464 million.

• Net Sales and Use:
    4.5% above forecast
• Net Individual Income:
    9.3% above forecast
• Net Corporate Income:
  37.5% above forecast
• Net Miscellaneous:
    4.7% below forecast

Fiscal Year Net Receipts: Net General Fund receipts for fiscal year 2018-19 were $1.212 billion, which is 5.5% above the certified forecast of $1.149 billion.

• Net Sales and Use:
    2.5% above forecast
• Net Individual Income:
    7.4% above forecast
• Net Corporate Income:
  21.0% above forecast
• Net Miscellaneous:
    8.0% below forecast

The comparisons in this report are based on the forecast made by the Nebraska Economic Forecasting Advisory Board on February 28, 2018. This forecast was adjusted for legislation passed in 2018, divided into monthly estimates and certified to the Clerk of the Legislature by the Tax Commissioner and Legislative Fiscal Analyst on July 13, 2018.

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 2018-2019*

 

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 $279,849,780 $259,542,642 $20,307,138 7.8 $279,849,780 $259,542,642 $20,307,138 7.8
August 422,129,588 424,947,767 -2,818,179 -0.7 701,979,368 684,490,408 17,488,959 2.6
September 510,217,946 464,358,313 45,859,632 9.9 1,212,197,313 1,148,848,722 63,348,591 5.5

 

Comparison of Actual and Projected General Fund Receipts by Tax Type
for September 2018 and Cumulative Fiscal Year 2018-2019*

 

September
Actual

September
Projected

Difference

Percent
Difference

Cumulative
Actual

Cumulative
Projected

Cumulative
Difference

Cumulative
Percent
Difference

Gross Receipts
Sales & Use Tax
$195,963,845 $196,543,281 -$  579,436 -0.3 $ 598,394,401 $ 596,396,110 $ 1,998,291 0.3
Ind. Income Tax
264,830,632 245,552,020 19,278,612 7.9 642,185,858 602,433,365 39,752,493 6.6
Corp. Income Tax
73,488,891 53,317,789 20,171,102 37.8 96,584,141 82,645,157 13,938,984 16.9
Misc. Taxes
31,914,998 33,504,213 -1,589,215 -4.7 62,863,369 67,792,878 -4,929,509 -7.3
Total Gross
$566,198,366
$528,917,304
$37,281,062
7.0
$1,400,027,770
$1,349,267,510
$50,760,260
3.8
Refunds
Total Refunds
$55,980,420
$64,558,990
-$8,578,570
-13.3
$187,830,457
$200,418,788
-$12,588,331
-6.3
Net Receipts
Sales & Use Tax
$149,472,520 $142,967,902 $ 6,504,618 4.5 $  445,901,579 $  435,105,646 $10,795,933 2.5
Ind. Income Tax
259,828,860 237,741,528 22,087,332 9.3 615,907,999 573,246,764 42,661,235 7.4
Corp. Income Tax
69,001,567 50,173,847 18,827,720 37.5 88,076,153 72,785,717 15,290,435 21.0
Misc. Taxes
31,914,998 33,475,035 -1,560,038 -4.7 62,311,582 67,710,594 -5,399,013 -8.0
Total Net
$510,217,946
$464,358,313 $45,859,632
9.9
$1,212,197,313
$1,148,848,722
$63,348,591
5.5

*Totals may not add due to rounding.