The latest State tax receipts are slightly below projections. State Tax Commissioner Doug Ewald tells us he is pleased net individual income revenue is 4.3 percent above recertified forecast for February.
“If there’s one item in here that is probably most concerning to me it’s the gross sales tax revenue, being 7.5% below forecast
Ewald tells us its indicative that either the forecast isn’t quite right on or Nebraskans aren’t spending to the extent they hoped they would be spending. Ewald says rising gas prices could slow down spending even further in the future. The latest figures show overall state net tax receipts were down just point one percent below the recertified state forecast for February.