Nebraska Department of Revenue Reports Positive Fiscal Year End

The Nebraska Department of Revenue reported positive state revenue trends for the full fiscal year ending June 30, 2019. Total General Fund collections for the year were $4.896 Billion, a $176 Million increase from the last certified forecast for the fiscal year from the Nebraska Economic Forecasting Advisory Board (NEFAB). The increase was driven by larger than expected collections from individual income taxes (3.1% above forecast expectations) and corporate income taxes (22.8% above forecast expectations). The additional revenue collections are by law directed to Nebraska’s cash reserve fund, which is now estimated at approximately $500 Million.

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Nowka & Edwards

1233 Lincoln Mall, Suite 201
Lincoln, NE 68508

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