Tenn. Tax Collections Show Marginal Growth
Tennessee tax collections show marginal growth in the budget year’s second month. Finance Commissioner Mark Emkes says September revenues continue to reflect the sluggish national economy. Overall revenues totaled just over $1 billion, more than 5 percent above the budgeted estimate. September collections reflect economic activity in the previous month. Sales tax collections came to $2.2 billion less than estimates for the same month, and combined franchise and excise taxes were almost $55 million above projections. Gasoline and motor fuel collections were $3 million below estimates.