NEBRASKA'S 2023-2024 GENERAL TAX RECEIPTS COME IN $10.6 MILLION BELOW LATEST PROJECTIONS

LINCOLN- Nebraska's tax receipts for the fiscal year showed the state falling $10.6 million short of February projections. State Senator Danielle Conrad prompted that this is because of recent changes to how big corporations handle their taxes. The receipts include net sales and use, individual income, corporate income, and miscellaneous taxes.

Governor Jim Pillen reacted by promoting his fix for the state's tax problem, set to be presented during the special legislative session scheduled for the end of July. “That feeds into our most immediate goal of fixing the state’s property tax crisis in the upcoming special session,” Pillen said. Critics have stated that Pillen's plan will make our taxes more unstable.

State Senator George Dungan ensured that the public got all the details, reminding people that lawmakers allocated $200 million into the state's general fund, partially to pay for future obligations. “I think it would be a mistake to rely on those numbers in making major decisions without taking into account the entire story,” Dungan stated. Some lawmakers have agreed with Pillen that this will provide momentum for their tax relief efforts.

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