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Monday, December 23, 2024

Tennessee's combined tax revenues up 0.2% from Q4 to Q1 2022

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David Gerregano Tennessee Commissioner of Revenue | Tennessee Department of Revenue

David Gerregano Tennessee Commissioner of Revenue | Tennessee Department of Revenue

Combined tax revenues in Tennessee increased 0.2% in the first quarter of 2022 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.

Overall, Tennessee collected $5.1 billion in taxes during the first quarter of 2022, compared to $5.1 billion in the previous quarter.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($4.1 billion) and income taxes ($466 million).

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.

Q1 Tennessee Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$4,065
Income Taxes$466
License Taxes$429
Other Taxes$134
Source: U.S. Census Bureau

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