Nebraska continues strong recovery with budget surplus
The October General Fund tax revenues are in and it looks like Nebraska is not in danger of having a large budget deficit like some states around the nation are experiencing.
According to the October figures, fiscal year net tax revenues are 7% above the certified forecast and for the month of October they are 7.9% above forecast.
- Net sales and use: 11.6% above forecast
- Net Individual Income: 5.7% above forecast
- Net Corporate Income: 2.4% below forecast
- Net Miscellaneous: 3.9% above forecast
This is good news for the state as we enter uncertain times with higher COVID-19 cases and a possible nationwide shutdown after the first of the year.