Tennessee’s Budget Sees Impact Of Tax Cuts And No New Untapped Revenue Sources

Two Things Have Driven Tennessee’s Massive Rise In State Revenues Over The Past Five Years: The Ability To Collect Taxes On Internet Sales And An Enormous Growth In Franchise And Excise Tax Collections. But As The Online Sales Tax Money Becomes A Normal Part Of The State Budget And Lawmakers’ 2023 Franchise And Excise Tax Cuts Go Into Effect, The Days Of Significant Revenue Growth Are Likely In The Rearview Mirror.

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