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Tennessee Sales Tax Collection Update

  • Dec 15, 2011 | Susan McLain

Revenue collections are looking good for Tennessee, according to the revenue report from the Tennessee Finance and Administration Department. Commissioner Mark Emkes reports that "...collections for October were $791.5 million, which is 8.01% above October 2010."

October signals the end of the first quarter of the 2011-2012 fiscal year and "the sales tax recorded a first quarter growth of 6.5%, which is the best first quarter growth since 2006," according to Emkes.

Collections were $15.9 million more than the original estimate for October, and $36.4 million more than the budgeted estimate. According to the state, "...sales tax and franchise and excise tax collections account for about seventy-five percent of all state tax revenue."

Learn more about how to keep your business compliant with sales tax collection and reporting. Contact Avalara at 877-780-4848 or visit www.avalara.com today.

Sales tax rates, rules, and regulations change frequently. Although we hope you'll find this information helpful, this blog is for informational purposes only and does not provide legal or tax advice.
Avalara Author
Susan McLain
Avalara Author Susan McLain
Susan McLain began her career as a technical writer in technology industries such as satellite networking and medical devices. Her skills encompass technical and marketing writing, usability engineering, verification and validation testing and protocol writing, requirements development, business analysis, technical illustration/graphic design and marketing. She has owned her own business providing service to small to medium sized business and in other positions, she has been in project management, documentation and marketing. She is currently the content specialist for Avalara helping to “make sales tax less taxing.”