Officials who decide how much the state should expect to collect in tax revenue each year put off making those predictions today, citing this week’s closure of Tennessee Tower for delaying the…
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revenue
State of Tennessee Press Release; Nov. 10, 2010:
NASHVILLE – State revenue collections for October were $732.8 million, which is 4.95% above collections for the same month last year, and marks…
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State of Tennessee Press Release; July 13, 2010:
NASHVILLE — Total tax collections for June were below budgeted estimates, but recorded positive growth in sales and corporate taxes. Finance and Administration Commissioner Dave…
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State of Tennessee Press Release; May 12, 2010:
NASHVILLE – Tennessee revenue collections improved in April with a net positive growth of 2.23% over April collections one year ago. Finance and Administration…
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State officials say they expect to see another month of lower than expected revenues. In that case, February would mark the twenty-first consecutive month of negative revenue growth and mean the state needs to lower its expectations for the rest of the budget year.
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Although tax collections were down during the holiday season, state officials say this is the closest the state has gotten to actually hitting budget estimates. State Finance Director David Goetz says it may signal “some sort of turn” in the economy.
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House sponsor wants to sit on the bill while government agencies, police and traffic engineers try to reach consensus on what a final proposal ought to contain. Lawmakers also still await an attorney general’s opinion requested Jan. 9.
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State of Tennessee Press Release, Feb. 10, 2010
NASHVILLE – Tennessee sales tax collections continue to be a concern for the state’s general fund. Negative growth in sales tax collections continued in January, with…
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Press Release from Tennesseans for Fair Taxation, Feb. 1, 2010:
“It’s time for the General Assembly to enact a plan that gives tax cuts, not service cuts, that will help end the recession…
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State of Tennessee Press Release, Jan 13, 2010:
NASHVILLE – The state’s fiscal year continues its trend of negative tax revenue growth, with tax collections falling below budgeted estimates again in December. Finance and…
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As legislators struggle to pass a budget in 2010, disagreements are likely to emerge between those who want to minimize pain to taxpayers, and those looking to protect recipients of government spending from harsh economic realities. But promoting long-term job-growth will be high on all Tennessee politicians’ New Year’s resolution lists.
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UT economist expects three percent tax-funded state revenue growth next year as economy picks up. Dreary employment market will also take time to brighten, even though evidence suggests Tennessee businesses are starting to expanding production some.
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