NASHVILLE (AP) — An 8.3 percent 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.