TBA Law Blog


Posted by: Paul Burch on Sep 21, 2023

Tennessee's Finance and Administration Commissioner Jim Bryson reported state revenues for August came in $39.4 million less than estimated and $1.7 million lower than the same month a year ago, reports Tennessee Lookout. The 0.11% drop was mostly due to a decrease in franchise and excise tax collections, according to Bryson. Sales taxes were $25.4 million higher than estimated for August. But the state also provided a break on grocery sales taxes and a weekend-long sales tax holiday, much of which was part of a $400 million tax reduction set to include business tax breaks scheduled to kick in permanently next year.