WATE:

Tennessee revenue collections in March were $33 million more than the budgeted estimate.
Franchise and excise tax collections, along with sales tax collections, accounted for most of the increase.

Franchise and excise tax collections were almost $21 million more than estimated, while sales tax collections were $11 million higher than estimates.

Overall, the state collected $746.6 million through March.

Finance officials are projecting the fiscal year will end up with a surplus exceeding $177 million.

Remember this when the income tax starts rearing its head again. It’s not a revenue problem.

Posted in uncategorized on April 12th, 2006 by SayUncle | RSS 2.0 |