Tennessee revenues continue to top projections amid COVID-19

in Business

KNOXVILLE, Tenn. (WVLT) – NASHVILLE, Tenn. (AP) – Tennessee revenues continued to exceed projections and grew year-over-year again last month, despite the COVID-19 pandemic.

The Department of Finance and Administration says February revenues totaled $1.1 billion, which is $112.7 million more than the state received in February 2020 and $190.9 million more than the budgeted estimate.

The growth rate for February checked in at 11.1%. Finance Commissioner Butch Eley says sales and corporate tax revenues delivered extraordinary growth for the month. The sales tax revenue growth that represents January consumer activity occurred in almost all segments of the state economy except for restaurants and bars.

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