Tenn. June revenues $3.2M more than state budgeted

Finance commissioner: Tenn. June tax collections weak, but revenues still more than budgeted

Associated Press

NASHVILLE, Tenn. (AP) -- Tennessee Finance Commissioner Larry Martin says overall June revenues were $3.2 million more than the state budgeted.

Martin said Thursday that state tax collections for last month were weak, but he said it marks the 11th consecutive month this year of positive growth in total collections.

Sales tax collections were $100,000 less than the estimate for June, but franchise and excise taxes combined were $2.3 million more than budgeted.

The general fund went over by $8.9 million.

Martin says the year-to-date growth rate for all taxes remains low and points to an economy that is still anemic and recovering slowly.

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