FOR IMMEDIATE RELEASE

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

General Fund Receipts — July 2019

AUGUST 15, 2019 (LINCOLN, NEB.) — July Gross Receipts: Tax Commissioner Tony Fulton reports that gross General Fund receipts for July were $348 million, which is 1.5% above the certified forecast of $343 million.

• Gross Sales and Use:
    3.0% above forecast
• Gross Individual Income:
    4.3% above forecastt
• Gross Corporate Income:
  21.9% below forecast
• Gross Miscellaneous:
    7.6% below forecast

July Tax Refunds: Tax refunds for July were $63 million, which is 11.5% below the certified forecast of $72 million.

July Net Receipts: Net receipts for July were $285 million, which is 4.9% above the certified forecast of $271 million.

• Net Sales and Use:
    5.5% above forecast
• Net Individual Income:
    9.9% above forecast
• Net Corporate Income:
  16.2% below forecast
• Net Miscellaneous:
    7.5% below forecast

The comparisons in this report are based on the forecast made by the Nebraska Economic Forecasting Advisory Board on April 25, 2019. This forecast was adjusted for legislation passed in 2019, divided into monthly estimates and certified to the Clerk of the Legislature by the Tax Commissioner and Legislative Fiscal Analyst on July 12, 2019.

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 20191

  July
Actual
July
Projected2
Difference Percent
Difference
Gross Receipts
Sales & Use Tax
$218,846,391
$212,425,325
$6,421,066
3.0%
Ind Income Tax
102,146,658
97,966,850
4,179,808
4.3   
Corp Income Tax
16,032,032
20,521,345
-4,489,313
-21.9  
Misc Taxes
11,353,703
12,290,765
-937,062
-7.6   
     Total Gross
$348,378,784
$343,204,285
$5,174,499
1.5%
Refunds
     Total Refunds
$63,495,652
$71,731,207
-$8,235,555
-11.5%
Net Receipts
Sales & Use Tax
$165,516,423
$156,845,610
$8,670,813
5.5%
Ind Income Tax
93,624,933
85,184,110
8,440,823
9.9  
Corp Income Tax
14,388,453
17,168,405
-2,779,952
-16.2  
Misc Taxes
11,353,324
12,274,954
-921,630
-7.5  
     Total Net
$284,883,132
$271,473,079
$13,410,054
4.9%
1Totals may not add due to rounding.
2The projected amounts used in this comparison were set at the April 2019 meeting of the Nebraska Economic
Forecasting Advisory Board, and certified on July 12, 2019.