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October 2012 Collections

For Immediate Release:  November 16, 2012

TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF OCTOBER 2012 COLLECTIONS

NASHVILLE - October 2012 collections of the Tennessee Department of Revenue were $836,740,819, an increase of $45,256,183 or 5.7 percent from October 2011 collections.

Sales and use tax collections totaled $575,340,846, an increase of $5,313,970 or 0.9 percent from October 2011 collections.

Collections from the retail trade group increased 2.3 percent. Items with significant changes include:

  • Motor vehicle dealers and service stations: up 4.3 percent (with a 6.6 percent increase in the new, used motor vehicle sub-category item)
  • Food stores: up 4.3 percent
  • Eating & drinking places: up 2.8 percent
  • General merchandise stores: up 2.1 percent

Collections from the service group decreased 1.3 percent from October 2011. The loss was mostly attributable to amusement and recreation services (26.0 percent) and automotive repair, service & parking (7.1 percent); however, moderating this loss was a gain in business services (8.5 percent).

Collections from the non-retail, non-services group decreased 3.7 percent led by losses in wholesale trade (6.7 percent), communications (6.6 percent) and electric, gas & sanitary services (4.7 percent).

Consumer use tax collections were $325,252, a decrease of $857,460 or 72.5 percent from October 2011.

Franchise and excise tax collections were $65,139,101, an increase of $30,049,193 or 85.6 percent compared to the collection in October 2011. Separately, franchise tax collections were $31,174,209, an increase of $18,375,934 or 143.6 percent from last October. Excise tax collections were $33,964,892, an increase of $11,673,260 or 52.4 percent from October 2011.

Motor vehicle fuel tax collections were $18,858,248, an increase of $2,943,123 or 18.5 percent compared to October 2011.

Inheritance, gift & estate tax collections were $8,916,454, an increase of $2,342,905 or 35.6 percent compared to October 2011.

Business tax collections were $5,504,045, an increase of $2,269,214 or 70.2 percent compared to October 2011.

Income tax collections were $4,119,709, an increase of $2,194,440 or 114.0 percent compared to October 2011.

Gasoline tax collections were $52,044,497, an increase of $1,610,095 or 3.2 percent compared to October 2011.

TVA - In Lieu of tax collections were $27,297,241, a decrease of $1,364,651 or 4.8 percent compared to October 2011.

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 88 percent of total state tax revenue. During the 2012 fiscal year, the department collected $11.4 billion in state taxes and fees. In addition to collecting state taxes, the Department of Revenue collects taxes for local, county and municipal governments. During the 2012 fiscal year, local government collections by the Department of Revenue were $2.2 billion. In 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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