Mon
Dec 14 2009
03:55 pm
November state revenues down slightly from 2008
By: R. Neal

TN Department of Finance and Administration:

State tax collections fell below budgeted estimates in November, for the fourth consecutive month of the fiscal year that began on July 1, 2009. Finance & Administration Commissioner Dave Goetz today announced that state revenue collections for November were $708.2 million, which is 0.52% below November 2008 collections. November collections reflect consumer spending in October.
"November is the 18th consecutive month in which sales tax collections have experienced negative growth," Goetz said. "If there’s a bright spot, it’s worth noting that the growth rate for sales tax collections in November, while still negative, fared slightly better than the month before, when it was negative 7.8 percent."

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Tamara Shepherd's picture

No "bright spot"

Submitted by Tamara Shepherd on Wed, 2009/12/16 - 12:12am.
Per Randy's citatation:  "If there’s a bright spot, it’s worth noting that the growth rate for sales tax collections in November, while still negative, fared slightly better than the month before..."
Per the Tri-Cities News a couple of weeks back:  "Officials project the state’s tax base won’t return to 2008 levels until at least 2014."

http://www2.tricities.com/tri/news/local/article/tennessee_budget_shortfall_concealed_by_stimulus_funding/35156/W

There isn't any "bright spot," which was why I was asking (on another thread) what our Dem gubernatorial candidates are saying they'll do.

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