May revenues $31.5M more than state budgeted

May revenues $31.5M more than state budgeted

NASHVILLE (AP) - State Finance Commissioner Larry Martin says 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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