Tenn. sales taxes post largest growth since 2006 - WSMV News 4

Tenn. sales taxes post largest growth since 2006

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NASHVILLE, Tenn. (AP) -

An 8.3% growth rate in Tennessee's monthly sales tax collections marks the state's highest rate since January 2006.

The state Finance Department said in a release Monday that the state collected $555 million in sales taxes in September, which reflects economic activity in the previous month. That's nearly $13 million more than projected.

But corporate franchise and excise taxes fell $16 million below the budget estimate, holding the month's total general fund collections to just $4.5 million above projections.

The general fund has beaten budgeted estimates by nearly $23 million through the first two months of the spending year.

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