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Nebraska state tax receipts beat projections in February

LINCOLN, Neb. (AP) — Nebraska state government tax collections came in higher than projected in February.

The Department of Revenue reported Thursday that net tax collections for the month were $296 million, which is nearly 2 percent higher than the state’s certified forecast.

The department says net sales-and-use taxes were more than 1 percent below the forecast. Net individual income tax receipts were more than 1 percent higher than projected, net corporate income tax receipts were nearly 99 percent higher than expected and net miscellaneous taxes were more than 7 percent higher than expected.

The comparisons are based on the forecast set by the Nebraska Economic Forecasting Advisory Board in October.

Gov. Pete Ricketts says officials must continue to proceed with caution. By law, the additional review will go to the state’s cash reserve.

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