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Monday, December 23, 2024

Tennessee collects $4.1 billion in sales and gross receipt tax revenue in Q1 2022

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Tennessee collected $4.1 billion in sales and gross receipt taxes during the first quarter of 2022, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

Overall, Tennessee collected $5.1 billion in combined tax revenues in the latest quarter.

Sales and gross receipt taxes include taxes on licenses, alcohol, amusements, insurance, fuel, parimutuels, public utilities and tobacco products.

In addition to detailed tax revenue data from each state, the Quarterly Summary of State and Local Government Tax Revenue includes an estimate of state and local government tax revenue at a national level.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

1st Quarter Tennessee Tax Collections

Type of TaxAmount (in millions)
License Taxes$429
Sales and Gross Receipts Taxes$4,065
Income Taxes$466
Other Taxes$134

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