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Thursday, November 21, 2024

Tennessee's miscellaneous tax revenues down 15.5% since Q4 2023

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David Gerregano Tennessee Commissioner of Revenue | Tennessee Department of Revenue

David Gerregano Tennessee Commissioner of Revenue | Tennessee Department of Revenue

Tennessee collected $93 million in miscellaneous tax revenue during the fourth quarter of 2023, a 15.5% decrease from the same period the previous year when $110 million was reported, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

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.

Q4 2023 Tennessee Tax Collections

Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$4,228
Income Taxes$447
License Taxes$384
Miscellaneous Taxes$93

Source: U.S. Census Bureau

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