STATE- Nebraska government tax collections surged well above projections in May, with the state collecting $297 million more than expected, according to numbers released Tuesday. The Nebraska Department of Revenue reported net tax receipts of $720 million, which is more than 70% higher than the official forecast of $423 million.

The increase was driven by corporate income tax collections that were 375% above the certified state forecast and individual income tax collections that were 97% above the forecast. Net sales-and-use and miscellaneous tax receipts were 14.9% and 30.9% higher, respectively.

Net tax collections are also higher than expected in the current fiscal year, which ends this month. The state has collected $5.378 billion in the current fiscal year, an amount that's nearly 19% higher than the certified forecast of $4.525 billion.

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