Tenn. general fund collections fall $44M short - WMC Action News 5 - Memphis, Tennessee

Tenn. general fund collections fall $44M short

NASHVILLE, Tenn. (AP) - General fund tax collections missed projections by about $44 million in January.

General fund collections were $196 million below expectations through the first seven months of the budget year.

Sales taxes, which account for two out of every three tax dollars in Tennessee, fell $38 million short in January. Finance Commissioner Dave Goetz said the unusually cold month might have contributed to the poor sales tax collections.

Goetz said car sales, which had shown growth in the three previous months, dropped 8 percent in January.

The state's budget year ends on June 30.

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