the republic logo

Tenn. revenue collections show signs of improvement in March, but still short of projections

Share/Save/Bookmark

NASHVILLE, Tennessee — Tennessee revenue collections are showing signs of improvement, but are still well below expectations.

The state's general fund collections came in $4 million short of projections in March, which reflects economic activity in the previous month.

Corporate franchise and excise taxes were $12 million below the budgeted estimate for the month, though sales taxes exceeded expectations by $9 million.

Through the first eight months of the budget year, general fund collections have come up $264 million short of projections. The poor revenue collections led the Republican-controlled Legislature to cancel planned raises for teachers and state employees in the state's $32.4 billion annual budget plan passed last week.

Think your friends should see this? Share it with them!

All comments are moderated before posting. Your email address must be verified with Disqus in order for your comment to appear.
View our commenting guidelines and FAQ's here.

Story copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow The Republic:

All content copyright ©2014 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.