April Tax Revenue Falls Short of Projections

Nebraska’s tax revenue was below projections for April, in part due to the delay of the income tax filing deadline.

Revenue fell around $292 million short of projections for the month, but the state is still $4 million ahead of projections overall for 2020.

Income taxes were substantially lower than expected. Sales taxes were also lower than expected, though they beat last April’s flood-affected numbers.

Lydia Brasch is Public Information Officer for the Nebraska Department of Revenue. She said it’s unclear how the state budget and revenue may be impacted.

"It’s too early to know what the effects will be," Brasch said. "This month is just the first where we’re seeing what the effects are. There’s a lot of factors that may change these next months."

Income taxes for 2020 will likely be impacted by high unemployment. Eventual tax revenues will depend on when the economy reopens.