TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS OF
MARCH 2006 COLLECTIONS
NASHVILLE, Tenn. - March 2006 collections of the Tennessee Department of Revenue were $764,579,254, an increase of $44,040,754 or 6.1 percent over March 2005 collections.
Sales and use tax collections were $482,587,621, up $17,071,007 or 3.7 percent over March 2005 collections. The retail trade group was down 0.3 percent from last year's collections. Motor vehicle dealers and service stations (down 7.4 percent) and furniture stores (down 18.3 percent) contributed to the decline in collections for the retail sector. Offsetting these declines were general merchandise stores (up 6.1 percent), building materials stores (up 8.4 percent), eating and drinking places (up 3.7 percent), and miscellaneous retail stores (up 3.1 percent). Sales tax receipts from the services group were up 2.2 percent, with increased collections in hotels and lodging places (up 7.8 percent) leading the group. Collections from the non-retail, non-services group were up 16.7 percent, with increases in the communications (up 36.7 percent), wholesale trade (up 22.2 percent), and electricity, gas and sanitary services (up 8.8 percent) sectors accounting for most of the increase. Consumer use tax collections were up 54.4 percent over March 2005 collections.
Franchise and excise tax collections were $122,917,535, up $18,735,088 or 18 percent when compared to March 2005 collections. Separately, franchise tax collections were $45,864,320, up $7,952,938 or 21 percent over last year. Excise tax collections were $77,053,214, up $10,782,150 or 16.3 percent over March 2005 collections.
Collections from the privilege taxes were $18,463,786, a 29.6 percent or $4,219,511 increase over total privilege taxes collected in the same period last year.
Tobacco tax collections were $10,948,277, an increase of $3,187,520 or 41.1 percent over collections in the same period last year.
Gasoline tax collections were $41,670,057, an increase of $2,181,747 or 5.5 percent over March 2005 collections.
Income tax collections were $13,025,454, an increase of $1,278,153 or 10.9 percent over last year's collections.
Collections from the inheritance, gift and estate taxes were $4,385,984, a decrease of $3,176,720 or 42 percent compared to collections in the same period one year ago.
The Department of Revenue collects approximately 92 percent of total state tax revenue. During the 2004-2005 fiscal year, the department collected $9.6 billion in state taxes and fees. In addition to collecting state taxes, $1.7 billion of local sales tax was collected by the department for local governments during the 2004-2005 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.Tennessee.gov/revenue.
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