Tennessee Continues To Post Positive Revenues

NASHVILLE, Tenn. (AP) — Tennessee has posted another month of positive revenue numbers in the face of the COVID-19 pandemic.

The state Department of Finance and Administration says September tax revenues were $1.9 billion, or $321.5 million more than September 2020 and $378.1 million more than budget estimates.

Finance Commissioner Butch Eley says the revenues benefited from back-to-school shopping, continued stimulus effects and franchise and excise taxes that appear to reflect growth in corporate profits nationally.

He also cited privilege tax growth from realty transfer taxes.

On an accrual basis, September is the second month in the 2021-2022 budget year.