Tennessee General Fund Misses Projections by $62 Million

AP

NASHVILLE (AP) – Tennessee's general fund tax collections fell $62 million short of projections in September, the second month of the state's budget year.

Finance Commissioner Larry Martin said in a release Friday that total revenues for the month were $1.1 billion, or about 5 percent below the budgeted estimate.

Corporate franchise and excise taxes came in about $66 million short of projections, while the state's sales tax collections came in about $2 million less.

September tax collections reflect economic activity in the previous month.

Year-to-date general fund collections have fallen $83 million short of projections.

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