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Wednesday, November 20, 2024

Nebraska's sales and gross receipts tax revenue up 18.5% in Q1 compared to previous quarter

Nebraska collected $911 million in sales and gross receipts taxes during the first quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

This represents an 18.5% increase over the previous quarter, when sales and gross receipts tax revenue was $769 million.

Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities, and tobacco products.

Individual income taxes are based on net personal income and taxes imposed on dividends, interest, and income from intangibles.

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.

Overall, Nebraska collected $2.2 billion in combined tax revenues in Q1.

Q1 Nebraska Tax Collections

Type of TaxAmount (millions)
Income Taxes$1,193
License Taxes$70
Other Taxes$6
Property Taxes$0
Sales and Gross Receipts Taxes$911

Source: U.S. Census Bureau

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