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Tennessee May revenues came in higher than expected

Published On: Jun 11 2013 09:51:55 PM CDT
Updated On: Jun 11 2013 11:28:55 AM CDT
NASHVILLE, Tenn. -

The Volunteer State saw a budget surplus last month.

The State Finance Commissioner says May revenues were more than $31 million more than the state expected.

Commissioner Larry Martin says the sales tax growth rate rebounded last month, mainly because of the sale of building materials and the sale of new automobiles.

Martin 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 budget by $35.3 million.