Tennessee Collects $1.1B In March Sales Tax, Beats Budget On Collections
Tennessee Collected Nearly $1.7 Billion In Taxes And Fees In March, Which Was $17.6 Million Higher Than Estimated And $55.1 Million Higher Than March 2023.
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sales tax revenue
Tennessee Financial Officials Urge Calm Over State’s Flattening Revenue
Following A Massive Rise In Tax Revenues Over The Past Four Years, Tennessee’s Budget Outlook Is Not As Rosy Going Forward, But On Tuesday The State’s Chief Financial Planner Told Lawmakers To Remain Calm.
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56% Of Tennessee’s Sales Tax Collection Goes To Education
The State Of Tennessee Spent 43% Of The State Sales Tax On Education Last Fiscal Year And 56 Cents Of Every Dollar Of State And Local Sales Tax Went To Education In That Same Span.
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Tennessee Tax Collections Miss Budget By $62.1M For October
Tennessee Tax Collections Released On Friday Afternoon Were $62.1 Million Lower Than The Budgeted Estimate And $50.9 Million Lower Than Last October.
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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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Tax Breaks Abound & Revenue Decreases Causing Questions Over Whether Federal Education Funding Can Be Dropped
While Conservatives Have Spent Years Considering The Idea Of Removing The U.S Department Of Education’s Regulations On Tennessee Schools, Now That Those Considerations Are Being Backed With Research And Action, Tax Revenue Is Suddenly Down.Â
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Tennessee Collects $3B In Taxes, Fees In April
Tennessee Collected $3 Billion In Taxes And Fees In April, Exceeding The Budgeted Monthly Estimate By $429 Million.
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Tennessee Has Collected $1.5B More In Taxes Than Estimated For Fiscal Year
Tennessee Has Now Collected $1.5 Billion Than It Budgeted In Taxes And Fees Through The First Nine Months Of The Fiscal Year.
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Tennessee Has Collected $1.3B More In Taxes Than Estimated For Fiscal Year
Tennessee Has Now Collected $1.3 Billion More In Taxes And Fees Than Were Budgeted For The Fiscal Year, Which Just Completed Its Seventh Month.
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Tennessee Up $1.2B More Than Budgeted In Taxes, Fees At Fiscal Year Midpoint
Tennessee Has Collected $1.2 Billion More In Taxes And Fees Than Budgeted During The First Six Months Of The Fiscal Year. The Overages Are Then Able To Be Used By Lawmakers The Next Year.
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