March 2012 Collections
For Immediate Release: April 12, 2012
TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF MARCH 2012 COLLECTIONS
NASHVILLE - March 2012 collections of the Tennessee Department of Revenue were $916,082,592, an increase of $100,630,409 or 12.3 percent from March 2011 collections.
Sales and use tax collections totaled $537,964,527, an increase of $37,897,332 or 7.6 percent from March 2011 collections.
Collections from the retail trade group increased 6.3 percent. Items with significant changes include:
- Motor vehicle dealers and service stations: up 9.5 percent (with a 14.2 percent increase in the new, used motor vehicle sub-category item)
- Eating & drinking places: up 10.7 percent
- Building materials stores: up 18.3 percent
- Food stores: up 7.2 percent
- Miscellaneous retail stores: up 5.9 percent
- Home furniture, furnishings & equipment: up 14.4 percent
- General merchandise stores: down 5.0 percent
Collections from the service group increased 17.4 percent from March 2011. The major contributors to this gain were other services (190.8 percent), automotive repair, services & parking (8.4 percent), business services (6.2 percent), and hotel and lodging places (10.9 percent).
Collections from the non-retail, non-services group decreased 0.6 percent led by losses in communications (16.4 percent) and electric, gas & sanitary services (5.0 percent). This loss was somewhat offset by a gain in wholesale trade (17.0 percent).
Consumer use tax collections were $245,620, a decrease of $342,964 or 58.3 percent from March 2011.
Disaster relief tax rebate was $2,297 in March 2012 for taxpayers affected by the May 2010 flood, April 2011 disaster relief, and the sales tax rebate on storm shelters.
Franchise and excise taxcollections were $192,043,725, an increase of $68,049,590 or 54.9 percent compared to the collection in March 2011. Separately, franchise tax collections were $69,956,454, an increase of $30,178,132 or 75.9 percent from last March. Excise tax collections were $122,087,272, an increase of $37,871,458 or 45.0 percent from March 2011.
Privilege taxcollections were $14,426,016, an increase of $3,093,163 or 27.3 percent compared to March 2011.
TVA – In Lieu of taxcollections were $28,661,892, an increase of $2,566,579 or 9.8 percent compared to March 2011.
Gasoline tax collections were $42,267,593, an increase of $1,471,133 or 3.6 percent compared to March 2011.
Motor vehicle fuel taxcollections were $10,201,442, an increase of $1,285,829 or 14.4 percent compared to March 2011.
Inheritance, gift & estate tax collections were $6,614,378, a decrease of $10,262,601 or 60.8 percent compared to March 2011.
Motor vehicle registration tax collections were $24,135,234, a decrease of $4,593,627 or 16.0 percent compared to March 2011.
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 88 percent of total state tax revenue. During the 2011 fiscal year, the department collected $10.4 billion in state taxes and fees. In addition to collecting state taxes, the Department of Revenue collects taxes for local, county and municipal governments. During the 2011 fiscal year, local government collections by the Department of Revenue exceeded $2.0 billion. In 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.
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