Tenn. general fund misses projections by $62M
NASHVILLE, Tenn. (AP) – Tennessee’s general fund tax collections fell $62 million short of projections in September, the second month of the state’s budget year.
Finance Commissioner Larry Martin said in a release Friday that total revenues for the month were $1.1 billion, or about 5 percent below the budgeted estimate.
Corporate franchise and excise taxes came in about $66 million short of projections, while the state’s sales tax collections came in about $2 million less.
September tax collections reflect economic activity in the previous month.
Year-to-date general fund collections have fallen $83 million short of projections.
