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Tennessee Revenue Collections Continue To Improve

Tennessee Revenue Collections Continue To Improve

CREATED May 15, 2014

NASHVILLE, Tenn. (AP) - Tennessee revenue collections are continuing to show signs of improvement, with April figures exceeding expectations.

Finance Commissioner Larry Martin said in a news release on Thursday that overall revenues were $75 million more than the state budgeted for April, which reflects economic activity in the previous month.

The state's general fund exceeded expectations by $69.8 million.

Corporate franchise and excise taxes were $4.9 million above the budgeted estimate for the month, and sales taxes were $4.8 million more than expected.

The state has struggled with poor revenue collections, which led the Republican-controlled Legislature to cancel planned raises for teachers and state employees in the state's $32.4 billion annual budget plan passed last month.

(Copyright 2014 by The Associated Press. All Rights Reserved.)