For Immediate Release: May 12, 2008
TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF APRIL 2008 COLLECTIONS
NASHVILLE - April 2008 collections of the Tennessee Department of Revenue were $1,391,939,718, a decrease of $7,644,580 or 0.6 percent from April 2007 collections.
Sales and use tax collections totaled $576,927,099, a decrease of $24,554,304 or 4.1 percent from April 2007 collections.
Collections from the retail trade group decreased 6.4 percent. Items with significant changes include:
Collections from the service group increased 0.3 percent from April 2007. Only the business services category exhibited significant change (up 7.2 percent).
Collections from the non-retail, non-services group fell 5.7 percent led by losses in manufacturing (down 23.2 percent) and wholesale trade (down 6.1 percent) and partially offset by electric, gas and sanitary services (up 6.6 percent).
Consumer use collections were $404,151, an increase of $65,269 (19.3 percent) from April 2007.
Franchise and excise tax collections were $378,521,947, a decrease of $24,113,339 or 6 percent when compared to April 2007. Separately, franchise tax collections were $144,077,990, an increase of $1,632,720 or 1.1 percent from last April. The excise tax collection was $234,443,957, a decrease of $25,746,059 or 9.9 percent from April 2007.
Income tax collections were $240,522,764, an increase of $38,895,349 or 19.3 percent compared to April 2007.
Tobacco tax collections were $23,861,710, an increase of $7,028,145 or 41.8 percent over the collection of April 2007.
Privilege tax collections were $20,996,806, a decrease of $4,705,481 or 18.3 percent compared to April 2007.
Motor vehicle registration tax collections were $26,855,923, a decrease of $3,136,376 or 10.5 percent from April 2007.
Inheritance and estate tax collections were $17,638,461, an increase of $1,209,822 or 7.4 percent from April 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.