Nebraska revenue receipts exceed expectations by more than 30%

LINCOLN, Neb. (WOWT) – Nebraska’s 2022 income receipts have exceeded expectations.

In response to Gov. Pete Ricketts, the state’s Normal Fund receipts for June 2022 went above their forecast by $56 million.

June was the final month of the 2022 fiscal yr. The online tax receipts for the fiscal yr have been almost $6.35 billion, which is roughly $1.47 billion above the state’s forecast of $4.88 billion. Meaning the state’s tax receipts have been 30.1% over expectations.

The excess will go into the state’s Money Reserve Fund, bringing it to $1.69 billion.

Ricketts says Nebraska’s income receipts exceeded expectations each month out of the fiscal yr.

“Nebraskans have been exhausting at work this previous fiscal yr,” stated Gov. Pete Ricketts. “They’ve helped put the State ready of unprecedented monetary power. Our Money Reserve may have considerably greater than what is required to serve Nebraskans. It units the following Legislature up with a primary alternative to construct on the historic tax aid we delivered to Nebraskans in 2022.”

Not too long ago, Nebraska recorded a billion {dollars} in month-to-month tax receipts for the primary time in state historical past.

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