{"id":2248432,"date":"2024-05-20T08:07:15","date_gmt":"2024-05-20T12:07:15","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tennessee-april-tax-collections-74-2m-short-of-budgeted-estimates\/"},"modified":"2024-05-20T08:09:42","modified_gmt":"2024-05-20T12:09:42","slug":"tennessee-april-tax-collections-74-2m-short-of-budgeted-estimates","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/tennessee-april-tax-collections-74-2m-short-of-budgeted-estimates\/","title":{"rendered":"Tennessee tax collections for April fell $74.2M below expectations"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ftennessee-april-tax-collections-74-2m-short-of-budgeted-estimates%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2248432&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>In April, Tennessee fell short by $74.2 million\u200c in tax collections \u200bcompared to the budgeted estimate, resulting in\u200d a total shortfall of \u2062$494.2 million for the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/hollywood-foreign-press-association-accused-of-ethical-violations-ahead-of-golden-globes\/\" title=\"Hollywood Foreign Press Association Accused Of Ethical Violations Ahead Of Golden Globes\">fiscal year ending<\/a> in July. Despite April&#8217;s \u200dcollections\u2062 exceeding $3 billion, they were\u200b slightly lower than in April 2023. Various taxes, <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/manchin-stands-in-the-way-of-democrats-desires-for-more-gun-control\/\" title=\"Manchin Stands in the Way of Democrats\u2019 Desires for More Gun Control\">including sales<\/a> and \u200bexcise\u200d taxes, saw declines,\u2064 while fuel and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-sen-portman-slams-biden-infrastructure-plan-as-wrong-approach\/\" title=\"GOP Sen. Portman slams Biden infrastructure plan as \u2018wrong approach\u2019\">business taxes<\/a> showed growth, affecting overall revenue.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<div data-td-block-uid=\"tdi_78\">\n<p>(The Center Square) \u2013 Tennessee collected $74.2 million less than the budgeted estimate in taxes and fees in April.<\/p>\n<p>That makes the state $494.2 million short of the budgeted estimates for the fiscal year, which runs through July on an accrual basis.<\/p>\n<p>The April collections topped $3 billion but were down less than half of a percent from April 2023.<\/p>\n<p>\u201cTotal revenues for April were similar to the receipts from the same time last year but lower than the estimated amount for the month,\u201d Tennessee Department of Finance and Administration Commissioner Jim Bryson said.<\/p>\n<p>April sales tax collections were down 0.62% from April 2023 and were nearly $40 million below the budgeted estimates.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER<\/a><\/strong><\/p>\n<p>Franchise and excise taxes were $43.8 million less than estimates and collections were down 2.82% from April 2023.<\/p>\n<p>\u201cSales and use taxes, which represent taxable sales activity in March, indicated slight growth, whereas corporate taxes remained lower,\u201d Bryson said. \u201cStrong growth was observed in fuel and business taxes, elevating monthly collections. All other taxes combined grew by only 1.39%.\u201d<\/p>\n<\/p><\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In April, Tennessee collected $74.2 million below the budgeted estimate in taxes and fees. This adds to the state&#8217;s overall shortfall of $494.2 million for the fiscal year ending in July. Despite April&#8217;s collections exceeding $3 billion, they were still significantly lower<\/p>\n","protected":false},"author":1,"featured_media":2248433,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/iStock-1058269468-1024x683.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-2248432","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2024\/05\/iStock-1058269468-1024x683.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2248432","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2248432"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2248432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2248433"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2248432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2248432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2248432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}