As fall begins to set in, the Volunteer State is showing signs of vibrant financial renewal as Tennessee’s fiscal year enters its second month.
Finance and Administration Commissioner Larry Martin reported that Tennessee’s overall September revenues reached a total of $1.4 billion. According to Martin, the month’s revenues exceeded the budgeted estimate by $55.3 million—and $63.4 million more than last year.
Other positive indicators include a 7.23 percent increase in sales tax revenues with a revenue total of $40.4 million more than the budgeted estimate.
“September sales tax receipts continue to reflect strong consumer activity within the state while corporate tax revenues performed as expected,” Commissioner Martin said in an official statement. “All other revenues combined produced healthy growth in the month of September contributing to a strong start for the new 2018-2019 fiscal year.