FOR IMMEDIATE RELEASE:
August 10, 2009
FOR INFORMATION CONTACT:
Douglas A. Ewald, Tax
Commissioner
(402) 471-5604
David Dearmont, Ph.D., Research Administrator
(402) 471-5700
GENERAL FUND RECEIPTS — JULY, 2009
LINCOLN — July Gross Receipts: Tax Commissioner Doug Ewald reported Monday that gross General Fund receipts for July were $239 million, which is 1.9% below the certified forecast of $243 million.
| • Gross Sales and Use: | 3.4% below forecast |
| • Gross Individual Income: | 0.5% below forecast |
| • Gross Corporate Income: | 32.1% above forecast |
| • Gross Miscellaneous: | 7.5% below forecast |
July Tax Refunds: Tax refunds for July were $41 million, which is 6.0% below the certified forecast of $43 million.
July Net Receipts: Net receipts for July were $198 million, which is 1.0% below the certified forecast of $200 million.
| • Net Sales and Use: | 2.2% below forecast |
| • Net Individual Income: | 2.1% above forecast |
| • Net Corporate Income: | 10.9% above forecast |
| • Net Miscellaneous: | 7.5% below forecast |
The comparisons in this report are based on the revised forecast made by the Nebraska Economic Forecasting Advisory Board on April 23, 2009. This forecast was adjusted for legislation passed in 2009, divided into monthly estimates and certified to the Clerk of the Legislature by the Tax Commissioner and Legislative Fiscal Analyst on July 15, 2009.
Previous monthly press releases are found at http://www.revenue.ne.gov/research/gen_fund.html.
##
APPROVED:
Douglas A. Ewald
Tax Commissioner
| JULY ACTUAL |
JULY PROJECTED |
DIFFERENCE | PERCENT DIFFERENCE |
|
|---|---|---|---|---|
| GROSS RECEIPTS |
||||
Sales & Use Tax |
$144,616,165 |
$149,701,000 |
($5,084,835) |
(3.4) |
Ind Income Tax |
69,960,684 |
70,292,000 |
(331,316) |
(0.5 ) |
Corp Income Tax |
8,788,995 |
6,651,000 |
2,137,995 |
32.1 |
Misc Taxes |
15,178,775 |
16,417,000 |
(1,238,225) |
(7.5) |
Total Gross |
$238,544,619 |
$243,061,000 |
($4,516,381) |
(1.9) |
| REFUNDS |
||||
Total Refunds |
$40,737,3802 |
$43,321,000 |
($2,583,620) |
(6.0) |
| NET RECEIPTS |
||||
Sales & Use Tax |
$113,975,549 |
$116,497,000 |
($2,521,451) |
(2.2) |
Ind Income Tax |
63,159,144 |
61,887,000 |
1,272,144 |
2.1 |
Corp Income Tax |
5,496,903 |
4,958,000 |
538,903 |
10.9 |
Misc Taxes |
15,175,643 |
16,398,000 |
(1,222,357) |
(7.5) |
Total Net |
$197,807,239 |
$199,740,000 |
($1,932,761) |
(1.0) |