TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS OF
JUNE 2007 COLLECTIONS
NASHVILLE, Tenn.– June 2007 collections of the Tennessee Department of Revenue were $1,212,701,956, an increase of $108,233,060 or 9.8 percent over June 2006 collections.
Sales and use tax collections totaled $580,446,021, an increase of $26,574,287 or 4.8 percent over the June 2006 collections.
Collections from the retail trade group increased 7.4 percent led by gains in:
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General merchandise: up 11.1 percent
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Auto dealers and service stations: up 8.9 percent
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Eating and drinking places: up 8.6 percent
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Food stores: up 6.7 percent
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Miscellaneous retail stores: up 5.7 percent
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Building materials: up 4.8 percent
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Apparel and accessory stores: up 7.9 percent
Collections from the service group increased 10.9 percent led by gains in:
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Business services: up 16.1 percent
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Hotel and lodging places: up 16.7 percent
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Auto repair, services and parking: up 4.8 percent
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Amusement and recreation services: up 13.1 percent
Collections from the non-retail, non-services group increased 1.4 percent led by gains in:
Declining collections included:
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Transportation: down 31.9 percent
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Communications: down 4.2 percent
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Consumer use: down 73.2 percent
Franchise and excise tax collections were $299,551,104, an increase of $43,691,934 or 17.1 percent when compared to June 2006. Separately, franchise tax collections were $104,728,682, a $13,216,626 or 14.4 percent gain from last June. The excise tax collection was $194,822,422, an improvement of $30,475,309 or 18.5 percent over June 2006.
Business tax collections were $116,757,466, an increase of $12,698,603 or 12.2 percent from June last year.
Inheritance and estate tax collections were $13,081,867, an increase of $8,370,634 or 177.7 percent over June 2006.
Privilege tax collections were $56,124,540, gaining $8,304,734 or 17.4 percent over the prior June's collection.
Tobacco tax collections were $13,273,226, an increase of $2,810,784 or 26.9 percent over the collection of June 2006.
TVA in-lieu-of tax payments amounted to $21,114,561, an increase of $2,770,308 or 15.1 percent.
Motor vehicle fuel collections were $16,191,815, an increase of $2,115,021 or 15.0 percent compared to June of last year.
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 2006-2007 fiscal year, the department collected $11.0 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 2006-2007 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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