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May revenues $31.5M more than state budgeted | |||||
NASHVILLE, Tenn. (AP) -- State Finance Commissioner Larry Martin says overall May revenues were $31.5 million more than the state budgeted. Martin in a release Tuesday said the sales tax growth rate rebounded in May mainly because of the sale of building materials and purchases of new automobiles. He says sales tax collections were $11.2 million above the budgeted estimate, and the franchise and excise taxes were $8.8 million more than budgeted. The general fund went over by $35.3 million. © 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Learn more about our Privacy Policy and Terms of Use. |