Revenue Collections in Tennessee High

Nov 15, 2011 at 06:07 am by bryan


Revenue collections in Tennessee for October continue to indicate consumer confidence in the states economy. The Finance and Administration commissioner reported that state revenue collections for October were $791.5 million, which is 8.01% above October 2010. The commissioner said that the state is satisfied with the positive growth rates experienced in our overall tax collections, especially in the sales tax, which is the best indicator of economic recovery in Tennessee. He said that the sales tax recorded a first quarter growth of 6.5%, which is the best first quarter growth since 2006.He noted that the state is continuing to watch national leading economic indicators, which show that very slow recovery is in progress, and in light of that and the uncertainty surrounding resolution of the federal budget, we must continue to be diligent in monitoring our spending patterns.
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