For Immediate Release: March 11, 2013
TENNESSEE DEPARTMENT OF REVENUE PROVIDES ANALYSIS
OF FEBRUARY 2013 COLLECTIONS
NASHVILLE - February 2013 collections of the Tennessee Department of Revenue were $744,272,348, an increase of $17,705,796 or 2.4 percent from February 2012 collections.
Sales and use tax collections totaled $514,021,485, an increase of $12,155,920 or 2.4 percent from February 2012 collections.
Collections from the retail trade group increased 3.6 percent. Items with significant changes include:
Collections from the service group decreased 0.6 percent from February 2012. The loss was led by business services (7.3 percent).
Collections from the non-retail, non-services group decreased 0.9 percent led by a loss in communications (9.8 percent). Meanwhile, manufacturing was the only significant gainer (6.2 percent).
Consumer use tax collections were $336,131, a decrease of $13,112 or 3.8 percent from February 2012.
Franchise and excise tax collections were $37,944,965, a decrease of $1,808,739 or 4.5 percent compared to the collection in February 2012. Separately, franchise tax collections were $12,532,699, an increase of $2,790,944 or 28.7 percent from last February. Excise tax collections were $25,412,267, a decrease of $4,599,683 or 15.3 percent from February 2012.
Inheritance, gift & estate tax collections were $8,678,369, an increase of $5,599,862 or 181.9 percent compared to February 2012.
Tobacco tax collections were $24,095,697, an increase of $4,132,075 or 20.7 percent compared to February 2012.
Motor vehicle registration tax collections were $22,204,206, an increase of $1,323,595 or 6.3 percent compared to February 2012.
Gasoline tax collections were $48,267,605, a decrease of $2,309,493 or 4.6 percent compared to February 2012.
TVA - In Lieu of tax collections were $27,297,241, a decrease of $1,364,651 or 4.8 percent compared to February 2012.
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 2012 fiscal year, the department collected $11.4 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 2012 fiscal year, local government collections by the Department of Revenue were $2.2 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.