For Immediate Release: March 9, 2010
TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF FEBRUARY 2010 COLLECTIONS
NASHVILLE - February 2010 collections of the Tennessee Department of Revenue were $638,945,108, a decrease of $29,407,344 or 4.4 percent from February 2009 collections.
Sales and use tax collections totaled $434,032,092, a decrease of $30,996,630 or 6.7 percent from February 2009 collections.
Collections from the retail trade group decreased 3.6 percent. Items with significant changes include:
Collections from the service group decreased 15.7 percent from February 2009. The biggest contributor to the decline was other services (70.3 percent); however all of the items were negative, save one which was slightly positive.
Collections from the non-retail, non-services group decreased 9.6 percent led by losses in communications (12.0 percent), construction (87.6 percent), electric, gas & sanitary services (9.8 percent), and manufacturing (10.3 percent); partially offsetting these losses was a gain in wholesale trade (3.6 percent).
Consumer use tax collections were $258,039, a decrease of $52,514 or 16.9 percent from February 2009.
Franchise and excise tax collections were $34,448,361, an increase of $1,043,176 or 3.1 percent over the collection in February 2009. Separately, franchise tax collections were $12,240,122, a decrease of $2,235,934 or 15.5 percent from last February. Excise tax collections were $22,208,439, an increase of $3,279,310 or 17.3 percent from February 2009.
Tobacco tax collections were $19,130,749, a decrease of $5,622,606 or 22.7 percent compared to February 2009.
Gasoline tax collections were $50,910,483, a decrease of $2,360,504 or 4.4 percent compared to February 2009.
Motor vehicle registration tax collections were $19,740,825, a decrease of $1,931,602 or 8.9 percent compared to February 2009 collections.
Privilege tax collections were $11,024,163, a decrease of $1,011,225 or 8.4 percent compared to February 2009.
Business tax collections were $8,389,704, an increase of $7,797,454 or 1,316.6 percent compared to February 2009.
TVA in-lieu of tax collections were $26,498,172, an increase of $2,483,736 or 10.3 percent compared to February 2009 collections.
Inheritance, gift and estate tax collections were $5,764,181, an increase of $1,630,026 or 39.4 percent compared to February 2009 collections.
The Department of Revenue is responsible for the administration of state tax laws and motor vehicle title and registration laws established by the legislature and the collection of taxes and fees associated with those laws. The Department of Revenue collects approximately 92 percent of total state tax revenue. During the 2008-2009 fiscal year, the department collected $10.2 billion in state taxes and fees. In addition to collecting state taxes, $1.9 billion of local sales tax was collected by the department for local governments during the 2008-2009 fiscal year. Besides collecting taxes, the department enforces the revenue laws fairly and impartially in an effort to encourage voluntary taxpayer compliance. The department also apportions revenue collections for distribution to the various state funds and local units of government. To learn more about the department, log on to www.TN.gov/revenue.