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Saturday, September 28, 2024

Nebraska’s combined tax revenues up 44.3% in Q4 compared to same quarter of the previous year

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Glen A. White Interim Tax Commissioner at Nebraska Department of Revenue | Nebraska Department of Revenue

Glen A. White Interim Tax Commissioner at Nebraska Department of Revenue | Nebraska Department of Revenue

Nebraska collected $2.5 billion in income, license, miscellaneous other, property and sales and gross receipts taxes during the fourth quarter of 2023, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This is a 44.3% increase over the same quarter the previous year when combined tax revenues were $1.7 billion.

The majority of the state’s tax revenue was collected through income taxes ($1.5 billion) and sales and gross receipts taxes ($926 million).

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments. Also, not all states collect all types of taxes.

Q4 Nebraska Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,488
License Taxes$45
Other Taxes$7
Property Taxes$0
Sales and Gross Receipts Taxes$926

Source: U.S. Census Bureau

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