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Tuesday, April 22, 2025

Q2 2024: Tennessee's combined tax revenues up 43.6% since Q1 2024

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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 $7.7 billion in total tax revenues during the second quarter of 2024, according to the U.S. Census Bureau's Quarterly Summary of State and Local Taxes.

These tax revenues stem from various sources, including property tax, sales and gross receipts tax, licenses, income tax, and miscellaneous tax.

The majority of the state’s tax revenue was collected through general sales and gross receipts taxes ($4.9 billion) and income taxes ($1.4 billion).

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.

Q2 2024 Tennessee Tax Collections
Type of TaxAmount (millions)
Sales and Gross Receipts Taxes$4,876
Income Taxes$1,448
License Taxes$1,251
Other Taxes$106

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