Sales tax collections show sign of recovery

 White and Van Buren counties are still seeing growth in sales tax collections are revealed in the Sept. 14 press release from Tennessee Department of Revenue.

According to the press release, White County collected $1,729,689 in state sales tax for August 2021 compared to $1,727,850 for July 2021. Local sales tax collections were down, with $649,554 for August compared to $656,384 for July.

Van Buren County collected $198,440 in state sales tax for

August 2021 compared to $182,886 in July 2021. Local sales tax collections were listed as $123,752 for August, with $103,327 listed for July.

In motor vehicle taxes for August 2021, White County collected $106,424, and Van Buren garnered $19,236.

Realty transfer and mortgage taxes collected in White County for August 2021 totaled $82,672, while Van Buren County listed $41,679.

Under business-state and local, White County collected $136,761 for August 2021, with Van Buren County collecting $2,070.

Statewide, Tennessee revenues were more than the budgeted estimates for the first month of the state’s fiscal year.

General fund revenues were $247.9 million more than the August estimate. The four other funds that share in state tax revenues were $20 million more than the estimates.

Sales tax revenues were $205.9 million more than the estimate for August. The August growth rate was 21.73 percent.

Franchise and excise taxes combined were $61.2 million more than the budgeted estimate of $33.5 million and the growth rate was 122.88 percent.

Gasoline and motor fuel revenues increased by 5.76 percent from August of 2020 and were $3.4 million more than the budgeted estimate of $103.5 million.

Business tax revenues were $2.9 million less than the August estimate of $9.2 million.

Tobacco tax revenues for the month were less than budgeted estimates by $3.5 million.

Privilege tax revenues for August were $0.1 million less than the month’s estimate.

Motor vehicle registration revenues were $0.1 million more than the August estimate of $28.6 million.

Hall income tax revenues for August were $1.5 million more than the budgeted estimate.

Mixed drink, or Liquor-by-the-drink, taxes were $2.2 million more than the August estimate of $13.8 million.

All other tax revenues were more than estimates by a net of $0.1 million.