WASHINGTON: Tennessee revenue collections for December reflected growth more than the same period a year before. Finance and Administration Commissioner Larry Martin reported Friday that state revenue collections for December were $1.1 billion, representing 8.95 percent growth and $91.1 million more than December 2014. December sales tax collections represent consumer spending that occurred in November.
Total revenues in December were higher than expected due to collections in the sales and corporate tax categories,” Commissioner Martin said. “We believe the December sales tax growth rate, which includes ‘Black Friday’ and after-Thanksgiving sales, may have been influenced by lower gasoline prices and renewed consumer confidence. January’s report will give us a clearer picture with Christmas retail activity included.
