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January 2008 Collections

For Immediate Release: February 8, 2008

TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF JANUARY 2008 COLLECTIONS

NASHVILLE - January 2008 collections of the Tennessee Department of Revenue were $1,053,111,555, a increase of $42,437,501 or 4.2 percent from January 2007 collections.

Sales and use tax collections totaled $693,110,035, a decrease of $9,561,064 or 1.4 percent from January 2007 collections.

Collections from the retail trade group decreased 2 percent. Items with significant changes include:

  • Food stores: up 2.9 percent
  • Building materials: down 13.8 percent
  • Motor vehicle dealers and service stations: down 5.3 percent (with a 6.7 percent decline in the new, used motor vehicle sub-category item)
  • General merchandise stores: down 1.2 percent
  • Furniture and home furnishings: down 4.0 percent

Collections from the service group decreased 0.3 percent from January 2007. Business services were up 3.7 percent and other services were down 25.9 percent.

Collections from the non-retail, non-services group declined 0.7 percent led by a gain in construction (up 27.5 percent), but this was partially offset by wholesale trade (down 4 percent).

Consumer use collections were $473,580, a decline of $277,430 (36.9 percent) from January 2007.

Franchise and excise tax collections were $180,619,555, an increase of $49,200,407 or 37.4 percent when compared to January 2007. Separately, franchise tax collections were $66,640,805, an increase of $21,548,127 or 47.8 percent over last January. The excise tax collection was $113,978,751, an increase of $27,652,280 or 32 percent from January 2007.

Tobacco tax collections were $23,189,371, an increase of $15,037,475 or 184.5 percent over the collection of January 2007.

Inheritance and estate tax collections were $5,237,150, an increase of $2,165,866 or 70.5 percent from January 2007.

Motor vehicle fuel tax collections were $12,581,456, a decrease of $4,888,529 or 28 percent from January 2007.

Gasoline tax collections were $52,294,231, a decline of $4,123,840 or 7.3 percent from January 2007.

Privilege tax collections were $22,404,819, a decrease of $3,366,179 or 13.1 percent compared to January 2007.

Income tax collections amounted to $4,730,454, a decrease of $1,939,982 or 29.1 percent from January 2007.

Motor vehicle registration tax collections amounted to $17,025,462, a decline of $1,363,064 or 7.4 percent from January 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 2006-2007 fiscal year, the department collected $11 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.TN.gov/revenue.

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