Tennessee revenues for the month of January exceeded collections from January of 2023, but were less than the budgeted estimates. The Tennessee Department of Finance reports that tax revenues were $1.95 billion, which is $15.8 million more than January of last year, but $97.8 million less than the budgeted estimate. The total growth rate for the month was 0.82 percent.
Year-to-date total Tennessee revenues are $377.7 million less than the budgeted estimate. General fund revenues are $378.8 million less than the estimate, and the four other funds total $1.1 million more than estimates. The growth rate for six months is negative 0.98 percent.