August Revenues
NASHVILLE, TN – Tennessee Department of Finance and Administration Commissioner Jim Bryson today announced that revenues were above budgeted estimates for the first month of the state’s fiscal year. August revenues were $1.6 billion, which is $15.6 million more than the monthly estimate and $57.6 million more than August 2024. The total growth rate for the month was 3.72 percent.
General fund revenues were $8.1 million more than the August estimate, while the four other funds that share in state tax revenues were $7.5 million more than the estimates.
On an accrual basis, August is the first month in the 2025-2026 fiscal year.
"August revenues exceeded expectations," Bryson noted. "Sales tax receipts, which reflect consumer activity from July, demonstrated strong growth compared to the same month last year. Although corporate tax collections fell short of projections, all other revenue sources surpassed expectations for the month.
"We are encouraged by the start of the new fiscal year and remain cautiously optimistic about continued growth. We will closely monitor economic activity to ensure that our monthly budget estimates are met."
Individual tax performance compared to August 2025 Budgeted Estimates:
· Sales Taxes: Above estimate by 2.03% or $25.6 million
· Corporate Taxes (Franchise & Excise): Below estimate by 34.92% or $16.3 million
· Fuel Taxes: Above estimate by 2.85% or $3.1 million
· All other taxes: Above estimate by 1.85% or $3.2 million
Individual tax performance compared to August 2024:
· Sales Taxes: Up 5.19% or $63.4 million
· Corporate Taxes (Franchise & Excise): Down 24.14% or $9.7 million
· Fuel Taxes: Up 1.03% or $1.1 million
· All other taxes: Up 1.59% or $2.8 million
The budgeted revenue estimates for 2025–2026 are based on the State Funding Board’s consensus recommendation from November 25, 2024, which was adopted by the first session of the 114th General Assembly in April 2025. These estimates also incorporate any revenue changes enacted during the 2025 General Assembly session. Monthly estimates for fiscal year 2025–2026 are available on the state’s website at https://www.tn.gov/content/tn/finance/fa/fa-budget-information/fa-budget-rev.html.
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