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August 2008 Collections

For Immediate Release: September 11, 2008

TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF AUGUST 2008 COLLECTIONS

NASHVILLE - August 2008 collections of the Tennessee Department of Revenue were $771,199,735, a decrease of $38,045,859 or 4.7 percent from August 2007 collections.

Sales and use tax collections totaled $564,579,666 a decrease of $7,272,476 or 1.3 percent from August 2007 collections.

Collections from the retail trade group decreased 3.3 percent. Items with significant changes include:

  • Miscellaneous retail: up 5.1 percent
  • Motor vehicle dealers and service stations: down 11.3 percent (with a 16.4 percent decline in the new, used motor vehicle sub-category item)
  • Building materials: down 10.1 percent

Collections from the service group decreased 0.8 percent from August 2007. There were no categories with significant changes.

Collections from the non-retail, non-services group rose 2.2 percent led by gains in electric, gas & sanitary services (11.6 percent) and transportation (50.5 percent).

Consumer use collections were $1,720,817, an increase of $1,310,809 (319.7 percent) from August 2007.

Franchise and excise tax collections were $15,542,442, a decrease of $29,022,654 or 65.1 percent when compared to August 2007. Separately, franchise tax collections were $9,720,062, a drop of $6,737,741 or 40.9 percent from last August. Excise tax collections were $5,822,380, a decrease of $22,284,913 or 79.3 percent from August 2007.

Tobacco tax collections were $24,817,202, an increase of $7,030,664 or 39.5 percent over the collection of August 2007.

Gross receipts tax collections were $18,758,491, an increase of $4,991,858 or 36.3 percent compared to August 2007.

Privilege tax collections were $16,655,228, a decrease of $9,114,894 or 35.4 percent compared to August 2007.

Gasoline tax collections were $49,549,650, a decrease of $2,523,688 or 4.9 percent compared to August 2007.

Motor vehicle registration tax collections were $18,960,468, a decrease of $1,878,301 or 9 percent compared to August 2007.

Inheritance and estate tax collections were $8,308,695, a decrease of $985,560 or 10.6 percent from August 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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