TN August Revenues $39.4 Million Less Than Budgeted Estimate

Tennessee Finance and Administration Commissioner Jim Bryson reports that August revenues were less than the budgeted estimates for the first month of the state’s fiscal year.  August revenues were $1.5 billion, which is $39.4 million less than the budgeted estimate and $1.7 million less than August 2022.  All combined tax growth in August was flat at negative 0.11 percent with most of the decline driven by a drop in volatile Franchise and Excise tax collections.