(tn.gov/Peg Broadcasting News)
Tennessee tax revenues exceeded budgeted estimates in March. Overall March revenues totaled $1.26 billion, which is $57.1 million or 4.75 percent more than the state received in March of 2020 and $112.1 million more than the budgeted estimate for the month.
“Most of the growth in March can be attributed to sales and use taxes, corporate taxes and business taxes, which have been strong contributors to revenue growth for most of the year, “ Department of Finance and Administration Commisioner Butch Eley said.
Year-to-date revenues, August through March, are $1.42 billion more than the budgeted estimate. The growth rate for eight months is 4.97 percent. General fund revenues are $1.35 billion more than the budgeted estimate and the four other funds are $69.4 million more than estimated.