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May 2012 Collections

For Immediate Release:  June 13, 2012

TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF MAY 2012 COLLECTIONS

NASHVILLE - May 2012 collections of the Tennessee Department of Revenue were $871,132,700, an increase of $28,633,565, or 3.4 percent from May 2011 collections.

Sales and use tax collections totaled $562,471,681, an increase of $23,691,606 or 4.4 percent from May 2011 collections.

Collections from the retail trade group increased 3.9 percent. Items with significant changes include:

  • Motor vehicle dealers and service stations: up 9.5 percent (with a 14.3 percent increase in the new, used motor vehicle sub-category item)
  • Building materials stores: up 14.7 percent
  • Eating & drinking places: up 5.2 percent
  • Apparel & accessory stores: up 6.7 percent
  • Food stores: up 2.3 percent
  • Miscellaneous retail stores: down 4.2 percent

Collections from the service group increased 6.0 percent from May 2011. The major contributors to this gain were automotive repair, services & parking (13.4 percent) and business services (6.8 percent).

Collections from the non-retail, non-services group increased 1.2 percent led by gains in wholesale trade (6.2 percent) and manufacturing (5.6 percent). These gains were somewhat offset by a loss in communications (6.1 percent).

Consumer use tax collections were $481,099, a decrease of $206,858 or 30.0 percent from May 2011.

Disaster relief tax rebate was zero in May 2012 for taxpayers affected by the May 2010 flood, May 2011 disaster relief, and the sales tax rebate on storm shelters.

Franchise and excise tax collections were $40,573,647, a decrease of $6,931,151 or 14.6 percent compared to the collection in May 2011. Separately, franchise tax collections were $12,300,878, a decrease of $1,186,014 or 8.8 percent from last May. Excise tax collections were $28,272,769, a decrease of $5,745,137 or 16.9 percent from May 2011.

Tobacco tax collections were $25,915,901, an increase of $3,419,029 or 15.2 percent compared to May 2011.

Inheritance, gift & estate tax collections were $8,883,567, an increase of $3,405,366 or 62.2 percent compared to May 2011.

Gasoline tax collections were $54,697,521, an increase of $2,904,816 or 5.6 percent compared to May 2011.

TVA - In Lieu of tax collections were $28,661,892, an increase of $2,566,579 or 9.8 percent compared to May 2011.

Income tax collections were $5,599,064, an increase of $1,386,594 or 32.9 percent compared to May 2011.

Motor vehicle registration tax collections were $20,427,039, an increase of $1,021,030 or 5.3 percent compared to May 2011.

Privilege tax collections were $47,632,379, a decrease of $2,122,944 or 4.3 percent compared to May 2011.

Motor vehicle fuel tax collections were $12,777,398, a decrease of $1,392,026 or 9.8 percent compared to May 2011.

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 88 percent of total state tax revenue. During the 2011 fiscal year, the department collected $10.4 billion in state taxes and fees. In addition to collecting state taxes, the Department of Revenue collects taxes for local, county and municipal governments. During the 2011 fiscal year, local government collections by the Department of Revenue exceeded $2.0 billion. In 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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