Tenn. revenue collections see increase in October

NASHVILLE, Tenn. (AP) – Tennessee Finance Commissioner Larry Martin says the state’s revenue collections for October were more than $15 million over what was expected.

Martin said in a news release on Thursday that the state’s sales tax collections recorded the strongest first-quarter growth since 2011. They were more than $17 million above the estimate for October.

The state’s general fund exceeded expectations by more than $10 million.

However, corporate franchise and excise taxes for October were $26.8 million, which is $19.2 million below the budgeted estimate of $46 million.

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