LINCOLN- Tax Commissioner James R. Kamm reported that gross General Fund receipts for February were $758 million. The breakdown is as follows:

Gross Sales and Use: $ 257,769,741
Gross Individual Income: $ 429,718,075
Gross Corporate Income: $ 41,423,487
Gross Miscellaneous: $ 28,865,234

February tax refunds amounted to $292 million and February net receipts were $466 million. The breakdown is as follows:

Net Sales and Use: $ 178,327,210
Net Individual Income: $ 231,182,127
Net Corporate Income: $ 27,915,533
Net Miscellaneous: $ 28,832,902

Net General Fund receipts for fiscal year 2023-24 are $5.085 billion. The breakdown is as follows:

Net Sales and Use: $ 1,653,970,334
Net Individual Income: $ 2,209,121,591
Net Corporate Income: $ 1,040,464,112
Net Miscellaneous: $ 181,229,189

The Nebraska Economic Forecasting Advisory Board (Board) met on February 29, 2024 and revised the current year forecast upward by $575 million to $7.020 billion. The Board forecast was divided into monthly estimates by the Tax Commissioner and Legislative Fiscal Analyst on March 11, 2024. For the full report click HERE.