Tennessee tax collections up in February

NASHVILLE - Tennessee tax collections ticked up slightly over estimates in February, continuing a seven-month trend of positive growth, Finance Commissioner Mark Emkes announced today.

February collections were $669.7 million, $7.2 million more than the state originally estimated.

Year-to-date collections for the first seven months of the fiscal year are $144.2 million more than the budgeted estimate.

The general fund, which funds most areas of government such as education and health care, exceeded estimates by $123.5 million. The four other funds, including the transportation fund, outpaced projections by $20.7 million.

February sales tax collections, which account for about 54 cents out of every $1 in state revenue, had their 11th straight month of growth and were $8.5 million more than expected.

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