LINCOLN - Tax Commissioner Tony Fulton on Friday released an updated report on the general fund receipts collected by the state for the general fund. Gross receipts were down 41% from the original forecast of $795 million (to $469 million). Tax refunds were down by 21.4%, to $124 million from the $158 million. Net receipts also fell nearly 46%. Most of this is due to the movement of the mandatory filing date for Nebraska state income tax returns from April 15, 2020 to July 15, 2020. Importantly, this movement has placed the income tax receipts into Nebraska's next fiscal year of FY2020-21.

Though April numbers had greatly fallen, over all net general fund receipts for FY19-20 were 0.1% above the certified forecast, $4 billion up from $3.997 billion.

A full listing these figures, and more detailed information, can be found on the department's press release by clicking HERE. We can expect more commentary on this issue later today and over the weekend from both the Governor's Office and Appropriations Committee Chairman John Stinner of Gering.