FOR IMMEDIATE RELEASE:
August 11, 2005
FOR INFORMATION CONTACT:
Mary J. Egr Edson, State Tax Commissioner
David Dearmont, Administrator
GENERAL FUND RECEIPTS — JULY 2005
State Tax Commissioner Mary J. Egr Edson reported Thursday that total gross General Fund receipts for the month of July, the first month of fiscal year 2005-06 were $223,908,740. That is 5.2 percent above the projected amount of $212,794,000. For the month of July, gross Sales and Use, Individual Income, Corporate Income and Miscellaneous taxes exceeded projections by 3.5, 8.1, 12.7 and 6.5 percent, respectively.
Total refunds for the month of July were $34,858,475 which is 2.9 percent above the projected amount of $33,863,000.
Egr Edson also said that net General Fund receipts were above projections for the month of July by $10,119,265. After refunds, total net receipts for the month were $189,050,265, or 5.7 percent above the projected amount of $178,931,000. For the month of July, net Sales and Use, Individual Income, Corporate Income and Miscellaneous taxes were above forecast by 2.0, 10.3, 32.9, and 6.2 percent, respectively.
The comparisons in this report are based on the forecast made by the Nebraska Economic Forecasting Advisory Board on April 28, 2005. This forecast was adjusted for legislation passed by the 2005 Legislature, divided into monthly estimates, and certified to the Clerk of the Legislature by the State Tax Commissioner and Legislative Fiscal Analyst on July 13, 2005.
Mary J. Egr Edson
State Tax Commissioner
|Sales & Use Tax||$141,298,660||$136,512,000||$4,786,660||3.5|
|Ind Income Tax||55,166,767||51,021,000||4,145,767||8.1|
|Corp Income Tax||9,849,710||8,740,000||1,109,710||12.7|
|Sales & Use Tax||$112,103,268||$109,933,000||$2,170,268||2.0|
|Ind Income Tax||50,531,645||45,814,000||4,717,645||10.3|
|Corp Income Tax||8,941,594||6,730,000||2,211,594||32.9|
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