Tue December 15, 2009
Nov. Tax Collections Fall in 4th Straight Month
Nashville, TN – Tennessee state tax collections in November fell below budgeted estimates for the fourth consecutive month of the fiscal year, but did slightly better than in October.
Finance Commissioner Dave Goetz says state revenue collections for November were $708 million, or $13.5 million less than estimated. The general fund was undercollected by just over $8 million. Though still negative, Goetz says franchise and excise taxes combined for November were up over $11.5 million above the budgeted estimate.