Tax Revenues are Up in Tennessee
Sales taxes were $33.5 million more than the estimate for May and were 6.49% more than May 2015. May receipts reflect retail business activity that occurred in April. For ten months, revenues are $345.0 million higher than estimated. The year-to-date growth rate for ten months was 7.81%.
Year-to-date revenues for ten months were $798.4 million more than the budgeted estimate. The general fund recorded $735.8 million above budgeted estimates and the four other funds were $62.6 million more than the budgeted estimate.