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October 2008 Collections

For Immediate Release: November 12, 2008

TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF OCTOBER 2008 COLLECTIONS

NASHVILLE - October 2008 collections of the Tennessee Department of Revenue were $709,096,280, an increase of $5,621,044 or 0.8 percent from October 2007 collections.

Sales and use tax collections totaled $547,441,355, a decrease of $27,082,816 or 4.7 percent from October 2007 collections.

Collections from the retail trade group decreased 8.2 percent. Items with significant changes include:

  • Motor vehicle dealers and service stations: down 18.6 percent (with a 22.8 percent decline in the new, used motor vehicle sub-category item)
  • Building materials: down: 10.2 percent
  • General merchandise stores: down 5.2 percent
  • Eating & drinking places: down 4.9 percent
  • Food stores: down 5.3 percent
  • Furniture and home furnishings: down 10.3 percent

Collections from the service group increased 0.8 percent from October 2007. Significant improvement by business services (up 11.4 percent) was partially offset by hotel and lodging places (down 8.8 percent).

Collections from the non-retail, non-services group rose 3.4 percent led by gains in transportation (44.5 percent), wholesale trade (3.3 percent), and electric, gas & sanitary services (6.0 percent).

Consumer use collections were $277,294, a decrease of $81,414 (22.7 percent) from October 2007.

Franchise and excise tax collections were a negative $17,957,663, an increase of $40,717,112 or 69.4 percent when compared to October 2007. Separately, franchise tax collections were $26,838,430, an increase of $31,586,089 or 665.3 percent from last October. The excise tax collection was a negative $44,796,093, an increase of $9,131,022 or 16.9 percent from October 2007.

Tobacco tax collections were $25,850,920, an increase of $2,715,081 or 11.7 percent over the collection of October 2007.

TVA in-lieu-of tax payments were $24,014,435, an increase of $2,002,816 or 9.1 percent compared to October 2007.

Inheritance and estate tax collections were $8,496,195, an increase of $1,473,237 or 21.0 percent from October 2007.

Gasoline tax collections were $43,485,445, a decrease of $10,029,017 or 18.7 percent compared to October 2007.

Privilege tax collections were $21,269,986, a decrease of $2,947,577 or 12.2 percent compared to October 2007.

Motor vehicle fuel tax collections were $15,672,707, a decrease of $1,425,603 or 8.3 percent compared to October 2007.

The Department of Revenue is responsible for the administration of state tax laws and motor vehicle title and registration laws established by the legislature and the collection of taxes and fees associated with those laws. The Department of Revenue collects approximately 92 percent of total state tax revenue. During the 2007-2008 fiscal year, the department collected $11.2 billion in state taxes and fees. In addition to collecting state taxes, $1.9 billion of local sales tax was collected by the department for local governments during the 2007-2008 fiscal year. Besides collecting taxes, the department enforces the revenue laws fairly and impartially in an effort to encourage voluntary taxpayer compliance. The department also apportions revenue collections for distribution to the various state funds and local units of government. To learn more about the department, log on to www.TN.gov/revenue.

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