December Revenues

Tennessee Department of Finance and Administration announced that state revenue collections for December were $156.4 million higher than the budgeted estimate.

“Total tax revenues for December exhibited remarkable growth compared to last year and were boosted by gains from both sales and corporate tax receipts,” Commissioner Butch Eley said.

“Next month’s January revenue report will fully capture consumer spending for the Christmas 2020 holiday season.”

Sales tax revenues were $28.4 million more than the estimate for December.

Franchise and excise taxes combined were $120.5 million more than t...