Tennessee’s tax revenue collection figures for the month of May were released yesterday, putting another strong month of growth on the books for the state. Overall, May revenues were $50.5 million more than the state budgeted. “May collections recorded significant gains in sales tax revenues as well as corporate tax payments… All other taxes, in … Continued
The first three months of the State’s fiscal year, which began in August, held good news: revenues bounced upward, a welcome trend after lagging revenues plagued the 2013-2014 fiscal year. However, the most recently released figures from November mark the first point in the 2014-2015 fiscal year where revenues were less than the budgeted estimate: … Continued
1. The Governor’s budget hearings are where the state budget process begins. The Governor’s budget hearings serve as a launch point for the State’s budgeting process. All state departments, agencies and entities, including the University of Tennessee System, will lay out their funding requests for the state’s next budget year—requests that the Governor will ultimately … Continued
The State’s March revenue figures were released this week, showing mixed results and a continued trend of lower than expected revenue collection. “March collections continued to reflect weaker than anticipated revenues from the corporate sector, while sales tax collections were stronger,” State Finance and Administration Commissioner Larry Martin said. “We believe the recent increase in … Continued
