September tax collections show marginal growth
NASHVILLE, Tenn. (AP) – Tennessee’s tax collections have shown marginal growth in the second month of the budget year. Finance Commissioner Mark Emkes said in a release Tuesday that September revenues “continue to reflect the sluggish national economy.” The state’s overall revenues were $1.1 billion, or 5.4 percent above the budgeted estimate. The September collections reflect economic activity in the previous month. Sales tax collections were $2.2 million less than the estimate for September, where combined franchise and excise taxes were $54.9 million above the budgeted estimate of $254.2 million. Gasoline and motor fuel collections were $3 million below the budgeted estimate of $71.5 million.
