NASHVILLE (AP) — Tennessee's general fund revenues have exceeded projections by $80 million in March, largely on a big jump in corporate tax collections.
The monthly tax collections, which reflect economic activity in February, bring year-to-date revenues to $317 million more than expectations.
Corporate franchise and excise taxes beat projections by $50 million in the month.
Finance Commissioner Mark Emkes noted in a release that April traditionally involves a quarter of all corporate tax collections in the budget year that ends June 30.
Gov. Bill Haslam this year elected not to wait for those April figures to be released before assembling the final amendments to his budget plan because the Legislature wants to finish its business earlier than usual.