NASHVILLE (AP) - Tennessee revenue collections in December were $965.7 million, more than $123 million more than the budgeted estimate, but the state finance commissioner said revenue in future months may not show the same growth.
Finance and Administration commissioner Mark Emkes said in a news release Thursday that business tax collections were $114.5 million above the budgeted estimate in December. But he said typically a quarter of all franchise and excise tax collections are realized in the month of April, so future months could be negatively impacted.
State tax collections were $12.9 million more than the estimate for December and the year-to-date growth rate is 6.29 percent.
Emkes also said while sales tax revenues reflect renewed consumer confidence, Tennessee is still not back to pre-2008 collection levels on sales taxes.