FOR IMMEDIATE RELEASE:
October 11, 2011
FOR INFORMATION CONTACT:
Douglas A. Ewald, Tax
Commissioner
402-471-5604
David Dearmont, Ph.D., Chief Economist
402-471-5700
GENERAL FUND RECEIPTS — SEPTEMBER 2011
LINCOLN — September Gross Receipts: Tax Commissioner Doug Ewald reported Tuesday that gross General Fund receipts for September were $396.1 million, which is 1.1% above the certified forecast of $391.6 million.
| • Gross Sales and Use: | 0.7% above forecast |
| • Gross Individual Income: | 0.6% below forecast |
| • Gross Corporate Income: | 1.8% above forecast |
| • Gross Miscellaneous: | 12.8% above forecast |
September Tax Refunds: Tax refunds for September were $43.9 million, which is 0.8% above the certified forecast of $43.5 million.
September Net Receipts: Net receipts for September were $352.2 million, which is 1.2% above the certified forecast of $348.1 million.
| • Net Sales and Use: | 0.3% below forecast |
| • Net Individual Income: | 0.6% below forecast |
| • Net Corporate Income: | 5.1% above forecast |
| • Net Miscellaneous: | 12.8% above forecast |
Fiscal Year Net Receipts: Net General Fund receipts for fiscal year 2011-2012 were $880.7 million, which is 0.9% below the certified forecast of $888.5 million.
| • Net Sales and Use: | 2.9% below forecast |
| • Net Individual Income: | 2.1% below forecast |
| • Net Corporate Income: | 24.1% above forecast |
| • Net Miscellaneous: | 3.3% above forecast |
The comparisons in this report are based on the revised forecast made by the Nebraska Economic Forecasting Advisory Board on April 28, 2011. This forecast was adjusted for legislation passed in 2011, divided into monthly estimates and certified to the Clerk of the Legislature by the Tax Commissioner and Legislative Fiscal Analyst on July 12, 2011.
Previous monthly press releases are at www.revenue.ne.gov/research/gen_fund.html.
##
APPROVED:
Douglas A. Ewald
Tax Commissioner
TOTAL |
TOTAL PROJECTED NET RECEIPTS** |
DIFFERENCE | PERCENT |
CUMULATIVE |
CUMULATIVE |
CUMULATIVE |
CUMULATIVE |
|
July |
$200,410,336 |
$211,449,000 | -$11,038,665 |
-5.2 |
$200,410,336 |
$211,449,000 |
-$11,038,665 |
-5.2 |
August |
328,095,462 |
328,955,000 |
-859,538 |
-0.3 |
528,505,797 |
540,404,000 |
-11,898,203 |
-2.2 |
| September | 352,198,248 | 348,138,000 | 4,060,248 | 1.2 | 880,704,046 | 888,542,000 | -7,837,954 | -0.9 |
| SEPTEMBER ACTUAL |
SEPTEMBER PROJECTED** |
DIFFERENCE | PERCENT DIFFERENCE |
CUMULATIVE ACTUAL |
CUMULATIVE PROJECTED** |
CUMULATIVE DIFFERENCE |
CUMULATIVE PERCENT DIFFERENCE |
|
|---|---|---|---|---|---|---|---|---|
GROSS RECEIPTS |
||||||||
Sales & Use Tax |
$152,519,144 |
$151,401,000 |
$1,118,144 |
0.7 |
$ 461,850,553 |
$ 463,802,000 |
-$1,951,447 |
-0.4 |
Ind. Income Tax |
173,041,133 |
174,002,000 |
-960,867 |
-0.6 |
448,542,868 |
449,738,000 |
-1,195,132 |
-0.3 |
Corp. Income Tax |
39,193,167 |
38,485,000 |
708,167 |
1.8 |
54,969,758 |
51,231,000 |
3,738,758 |
7.3 |
Misc. Taxes |
31,298,005 |
27,755,000 |
3,543,005 |
12.8 |
56,900,174 |
55,109,000 |
1,791,174 |
3.3 |
Total Gross |
$396,051,449 | $391,643,000 | $4,408,449 | 1.1 | $1,022,263,353 | $1,019,880,000 | $2,383,353 | 0.2 |
REFUNDS |
||||||||
Total Refunds |
$43,853,200 | $43,504,000 | $349,200 | 0.8 | $141,559,308 | $131,337,000 | $10,222,308 | 7.8 |
NET RECEIPTS |
||||||||
Sales & Use Tax |
$115,387,149 |
$115,711,000 |
-$ 323,851 |
-0.3 |
$349,370,713 |
$359,779,000 |
-$10,408,287 |
-2.9 |
Ind. Income Tax |
168,065,787 |
169,067,000 |
-1,001,213 |
-0.6 |
424,159,276 |
433,169,000 |
-9,009,724 |
-2.1 |
Corp. Income Tax |
37,448,057 |
35,616,000 |
1,832,057 |
5.1 |
50,277,525 |
40,520,000 |
9,757,525 |
24.1 |
Misc. Taxes |
31,297,255 |
27,744,000 |
3,553,255 |
12.8 |
56,896,532 |
55,073,000 |
1,823,532 |
3.3 |
Total Net |
$352,198,248 |
$348,138,000 |
$4,060,248 |
1.2 |
$880,704,046 |
$888,542,000 |
-$7,837,954 |
-0.9 |
*Totals may not add due to rounding.
**The projected amounts used in this comparison were set at the April 28, 2011 meeting of the Nebraska Economic Forecasting Advisory Board and certified on July 12, 2011.
