VOL. 126 | NO. 241 | Monday, December 12, 2011
Tenn. Sales Taxes Up 5.2 Percent in November
NASHVILLE (AP) – Tennessee sales tax collections were up 5.2 percent in November, and the state's general fund revenues have exceeded expectations by $69 million since the beginning of the budget year.
Finance Commissioner Mark Emkes stressed Friday that the sales tax collections reflect economic activity in October, meaning the state will have to wait to see the results of the post-Thanksgiving sales until next month.
Emkes announced the most recent revenue figures at a meeting of the State Funding Board. The panel also heard from economists about their projections for the state economy in the next budget year beginning in July.
Republican Gov. Bill Haslam has said he expects to have to fill a funding gap of about $300 million in the upcoming spending year.
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