For Immediate Release: August 10, 2010
TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF JULY 2010 COLLECTIONS
NASHVILLE - July 2010 collections of the Tennessee Department of Revenue were $833,561,696, an increase of $18,552,559 or 2.3 percent from July 2009 collections.
Sales and use tax collections totaled $566,652,555, an increase of $31,785,588 or 5.9 percent from July 2009 collections.
Collections from the retail trade group increased 3.6 percent. Items with significant changes include:
Collections from the service group increased 4.6 percent from July 2009. The biggest contributor to the increase was business services (8.8 percent).
Collections from the non-retail, non-services group increased 5.9 percent led by gains in wholesale trade (11.4 percent) and manufacturing (5.6 percent).
Consumer use tax collections were $241,327, a decrease of $151,264 or 38.5 percent from July 2009.
Flood relief tax rebate was $17,892 for July 2010 for taxpayers affected.
Franchise and excise tax collections were $51,464,124, a decrease of $29,460,413 or 36.4 percent compared to the collection in July 2009. Separately, franchise tax collections were $14,626,634, a decrease of $7,672,520 or 34.4 percent from last July. Excise tax collections were $36,837,490, a decrease of $21,787,893 or 37.2 percent from July 2009.
Inheritance, gift & estate tax collections were $13,515,208, an increase of $6,213,955 or 85.1 percent compared to July 2009.
Gross receipts tax collections (excluding TVA) were $18,472,108, an increase of $5,809,129 or 45.9 percent compared to July 2009.
Tobacco tax collections were $26,461,010, an increase of $2,928,568 or 12.4 percent compared to July 2009.
TVA in-lieu of tax collections were $26,498,172, an increase of $2,483,736 or 10.3 percent compared to July 2009 collections.
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 91 percent of total state tax revenue. During the 2009-2010 fiscal year, the department collected $10.1 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 2009-2010 fiscal year, local government collections by the Department of Revenue exceeded $1.9 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.