Monday, May 10, 2010

Where's The Money???...

April tax/fee collections for the State of Nebraska were released by the Nebraska Department of Revenue today...the good news...sales tax revenue was a smidge above what the Forecasting Board predicted for April...the really bad news...income tax receipts for the month were almost 52 million below their projection.  This is the charts...and our Cheerleader-in-Chief Governor Dave Heineman is disappointed.  

My question is how can the State Forecasting Board be so far off when predicting income tax revenue?  Did a large number of individual Nebraskans and corporations decide to take a tax holiday?  Is there a big bag of envelopes sitting in a dark corner in some Lincoln post office...or did last weeks Wall Street guy that entered the Proctor and Gamble stock sale do the spreadsheet numbers for Nebraska?

I can only think that May's numbers will be better...but I have my doubts.  Funny too that an Iowa television station scooped all of Nebraska's media in reporting this.  

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