Net State General Fund Receipts

Reprinted from information provided by the Nebraska Council of School Administrators. The Nebraska Department of Revenue issued the monthly press release describing General Fund revenue results for the month of December and the current fiscal year to date. The news is relatively good. Tax Commissioner Doug Ewald reported Thursday that net receipts for December were $363 million, which is 12.9% above the certified forecast of $322 million. A strong showing came from both individual and corporate income taxes. Net General Fund receipts for fiscal year 2012-2013 were $1.86 billion, which is 4.5% above the certified forecast of $1.78 billion. Net Sales and Use:  0.1% above forecast Net Individual Income:  6.3% above forecast Net Corporate Income:  28.8% above forecast Net Miscellaneous:  2.1% below forecast NOTE:  Important milestones in the 2013 Legislative Session will be the decisions made by the Nebraska Economic Forecast Advisory Board (Forecast Board) at their February and April meetings. A healthy forecast will play a major role in the decisions of the Legislature with regard to appropriations for public education and other programs.