Sales Tax


Tennessee’s Finance Commissioner Larry Martin says revenues in June were more than $3 million than the state budgeted.

Martin said in a release Thursday that state tax collections for last month were weak, but he said it marks the 11th consecutive month this year of positive growth in total collections. Sales tax collections were $100,000 less than the estimate for June, but franchise and excise taxes combined were $2.3 million more than budgeted. The general fund went over by $8.9 million.

The state's top budget official is reporting an 8.3 percent increase in General Fund revenue in May, largely thanks to improved collections from the sales tax, individual income taxes and property taxes.

Budget Director Jane Driskell released a monthly revenue report on Monday. The report showed property tax collections increased by 75.2 percent in May. Individual income tax receipts rose by 8.3 percent. And sales tax receipts were up 5.2 percent.

A proposal to make lowering the Tennessee state sales tax on groceries contingent on whether there's a surplus in revenue has failed.  The measure failed to get a majority vote in the Senate Finance Committee Wednesday.