State’s April Revenue Up 9.67 Percent Over Last Year

News release from Department of Finance and Administration:
NASHVILLE – Tennessee revenue collections continued an upward growth trend in April, with a net positive growth of 9.67% over April collections one year ago. Finance and Administration Commissioner Mark Emkes reported today that overall April revenues were $1,386.4 million or $82.8 million more than the state budgeted.
“Sales tax collections recorded the 25th consecutive month of positive growth dating back to April of 2010,” Emkes said. “In addition, corporate Franchise and Excise tax collections continue to be very encouraging, but the Hall Income Tax recorded a negative growth over last April and fell considerably short of the budgeted estimate.
“Uncertainty surrounding the outcome of Supreme Court review of the federal healthcare reform act, resolution of the federal budget and European financial crises, along with the potential for rising inflation, the volatility of gas prices and corporate tax collections, altogether requires us to be prudent for the remainder of this year.”

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