Combined tax revenues in Tennessee increased 43.6% in the second quarter of 2024 in comparison to the previous quarter, according to the U.S. Census Bureau’s Quarterly Summary of State and Local Taxes.
Overall, Tennessee collected $7.7 billion in taxes during the second quarter of 2024, compared to $5.4 billion in the previous quarter.
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.
| Type of Tax | Amount (millions) |
|---|---|
| Sales and Gross Receipts Taxes | $4,876 |
| Income Taxes | $1,448 |
| License Taxes | $1,251 |
| Other Taxes | $106 |
Source: U.S. Census Bureau
