Sales tax collections still growing in White and Van Buren counties

The latest report from Tennessee Department of Revenue indicates that White and Van Buren counties are seeing steady growth in both local sales tax collections and state sales tax collections.

White County was listed at $643,454 for October 2021 local sales tax collections, which was up from $625,087, in September 2021. State sales tax collections also saw an increase, from $1,640,106, in September, to $1,799,423, in October.

Van Buren’s numbers also revealed a positive growth in local sales tax collections, from $94,793, in September 2021, to $96,022, in October 2021. State sales tax collections followed a different pattern, however, with $172,550 in September and $167,790, in October.

Statewide, general fund revenues for October were $234.7 million more than the budgeted estimate, and the four other funds that share in state tax revenues were $21.5 million more than the budgeted estimates.

Sales tax revenues were $176.5 million more than the estimate for October. The October growth rate was 19.96 percent. Year-to-date revenues are 20.70 percent more than this time last year.

Franchise and excise taxes combined were $44.7 million more than the October budgeted estimate of $53.5 million. The October growth rate was 77.97 percent, and the year-to-date corporate tax growth rate is 38.47 percent.

Gasoline and motor fuel revenues increased by 1.92 percent and were $2.2 million more than the budgeted estimate of $107.6 million.

Motor Vehicle Registration revenue receipts increased by 10.40 percent from this same time last year and were $5.2 million more than the October estimate.

Tobacco tax revenues for the month were $2.5 million more than the budgeted estimate of $18.3 million. For three months, revenues are $0.6 million less than the budgeted estimate.

Privilege tax revenues were $18.5 million more than the budgeted estimate of $37.4 million, and on a year-to-date basis have exceed estimates by $33.9 million.

Business tax revenues were $1 million more than the budgeted estimate. Year-to-date, business tax revenues are $2.3 million less than the budgeted estimate.

Mixed drink, or liquor-by-the-drink, taxes were $3 million more than the October estimate, and on a year-to-date basis, revenues are $6.6 million more than the estimate.

Hall income taxes were $1.2 million more than the October estimate. For three months, income tax revenue growth is negative 40.19 percent less than last year.

All other tax revenues were greater than estimates by a net of $1.4 million.