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May revenues $31.5M more than state budgeted

4:56 PM, Jun 11, 2013   |    comments
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NASHVILLE, Tenn. (AP) -- State Finance Commissioner Larry Martin said overall May revenues were $31.5 million more than the state budgeted.

Martin in a release Tuesday said the sales tax growth rate rebounded in May mainly because of the sale of building materials and purchases of new automobiles.

He says sales tax collections were $11.2 million above the budgeted estimate, and the franchise and excise taxes were $8.8 million more than budgeted.

The general fund went over by $35.3 million.

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