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November Revenues In Tennessee Up Slightly From Prior Year

Posted at 5:13 PM, Dec 12, 2016
and last updated 2016-12-12 18:13:13-05

Tennessee officials said the state's revenues for November were up slightly from the same month a year ago.

Finance and Administration Commissioner Larry Martin said November’s revenues of $907 million were $6.8 million in excess of the budgeted estimate. November revenues represented consumer spending that occurred in October.

Martin said sales tax revenues showed moderate growth in November. Martin said franchise and excise taxes had negative growth for the month, which he said was not alarming since November was a small collection month for corporate revenues.

Officials said general fund revenues for November were $7.7 million less than the budgeted estimate, and the four other funds that share in state tax revenues were $14.5 more than the budgeted estimate.