State Tax Collections, One Year Later

The past 12 months have seen a decrease in tax revenues collected for the state, with overall February 2009 collections at around $668 million, about $59 million less than collections from February 2008, which is an 8.2 percent decrease in state revenues. Here’s a more specific breakdown of how February 2009 tax collections compared to last year in some key areas:

Retail trade tax collections:

  • Overall (down) 8.7%
  • Motor vehicle dealers and service stations (down) 20.8%
  • Building materials (down) 25.4%
  • Furniture and home furnishings stores (down) 10.7%
  • Automotive repair, service and parking (down) 10.8%

Non-retail, non-services tax collections:

  • Overall (down) 9.1%
  • Wholesale trade (down) 23.6%
  • Manufacturing (down) 25.5%
  • Electric, gas, and sanitary services (up) 15.4%
  • Consumer use (tax equivalent to sales tax on out of state purchases, online and catalog sales) (down) 47%
  • Franchise and excise (down) 12.6%
  • Motor vehicle fuel (down) 32.5%
  • Inheritance estate (down) 58.1%
  • Privilege (or wheel) (down) 27%
  • Motor vehicle registration (down) 13.1%
  • Gas (up) 3.2%
  • Tobacco (up) 7.2%

Source: Tennessee Department of Revenue, March 6, 2009

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