For Immediate Release: April 10, 2013
TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF MARCH 2013 COLLECTIONS
NASHVILLE - March 2013 collections of the Tennessee Department of Revenue were $936,101,823, an increase of $20,019,231 or 2.2 percent from March 2012 collections.
Sales and use tax collections totaled $538,531,912, an increase of $567,385 or 0.1 percent from March 2012 collections.
Collections from the retail trade group decreased 0.8 percent. Items with significant changes include:
Collections from the service group decreased 4.1 percent from March 2012. The loss was led by other services (64.7 percent). Somewhat offsetting the loss was a gain in business services (20.3 percent).
Collections from the non-retail, non-services group decreased 0.8 percent led by a loss in wholesale trade
Consumer use tax collections were $322,312, an increase of $76,692 or 31.2 percent from March 2012.
Franchise and excise tax collections collections were $211,541,790, an increase of $19,498,065 or 10.2 percent compared to the collection in March 2012. Separately, franchise tax collections were $74,723,650, an increase of $4,767,196 or 6.8 percent from last March. Excise tax collections were $136,818,140, an increase of $14,730,868 or 12.1 percent from March 2012.
Inheritance, gift & estate tax collections collections were $10,192,718, an increase of $3,578,340 or 54.1 percent compared to March 2012.
Tobacco tax collections $18,735,667, a decrease of $5,328,527 or 22.1 percent compared to March 2012.
Motor vehicle registration tax collections were$26,612,583, an increase of $2,477,349 or 10.3 percent compared to March 2012.
TVA - In Lieu of tax collections were $27,297,241, a decrease of $1,364,651 or 4.8 percent compared to March 2012.
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 2012 fiscal year, the department collected $11.4 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 2012 fiscal year, local government collections by the Department of Revenue were $2.2 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.