Thursday, September 29

Tag: tax collection

Nebraska ends fiscal year with record $6.35 billion revenues | Politics
Politics

Nebraska ends fiscal year with record $6.35 billion revenues | Politics

LINCOLN — Nebraska closed out its fiscal year on a record high note, with net tax revenues nearing $6.35 billion, according to a new state report.The Nebraska Department of Revenue report, released Friday, shows the state collected $624 million more for the fiscal year that ended June 30 than predicted just four months earlier. The total is up 10.9% from those February projections, which in turn were $370 million higher than projections issued in October.The new revenue figures had some policymakers talking about tax cuts while others said the money should be used as a hedge against an economic downturn.  State Sen. Lou Ann Linehan of Elkhorn, the Revenue Committee chairwoman, said the increased revenues mean lawmakers should do more to reduce taxes next year, perhaps by c...