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Tennessee November Revenues Exceed Budgeted Estimates Monday, December 14, 2020
Tennessee revenue collections for November exceeded the budgeted estimate. Department of Finance and Administration Commissioner Butch Eley announced Monday that overall November state revenues were $1.1 billion, which is 1.97 percent more than November 2019 and $129.5 million more than the budgeted estimate.
“November sales tax collections, which represents consumer taxable sales activity in October, includes the first month of sales tax payments made by marketplace facilitators, which accounted for 2.9 percent of our sales tax growth,” Commissioner Eley said. “The negative growth in franchise and excise tax collections, which is a combination of tax filings and estimated payments, reflects the sensitivity of these taxes to business cycle fluctuations.