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Tennessee revenues exceeded budgeted estimates for the month of June. Department of Finance and Administration Commissioner Jim Bryson today reported that total June tax revenues were $2.36 billion, $173.1 million more than the budgeted estimate and $68.2 million more than June 2024. The total tax growth rate for the month was 2.98 percent.
General fund revenues were $171.6 million more than the June estimate, and the four other funds that share in state tax revenues were $1.5 million more than the estimates.
“June tax revenues demonstrated promising growth relative to our monthly budget estimates,” Bryson said. “Sales tax collections were slightly above forecast, based on May’s spending. Also, corporate tax revenues, including franchise and excise taxes, were significantly higher than anticipated. We also saw substantial increases in professional privilege taxes, which further contributed to this month's positive results.
“With just one month left in the 2024–2025 fiscal year, we remain optimistic and will continue to monitor the year-end results.”
On a year-to-date basis, August through June, total tax revenues are 0.40 percent more than the budget estimate, or $81 million more than expectations. When compared to this same period last year, total tax revenues have decreased by $209.3 million or 1.02 percent.
General fund revenues are 0.41 percent more than the year-to-date budgeted estimate, or $70.6 million. Likewise, year-to-date general fund collections compared to this same period last year have decreased 0.72 percent or $125.7 million.
Individual tax performance compared to June 2025 Budgeted Estimates:
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