Tennessee’s revenue collections for October were $709.1 million, only a slight increase over last year, making total year-to date collections $217.7 million less than the budgeted estimate.

“October is the third consecutive month this fiscal year in which sales taxes and corporate income taxes have experienced negative growth rates,” finance and administration commissioner Dave Goetz said in a statement. “We continue to be concerned with the year-to-date negative growth in our tax collections, but we are completely committed to balancing the state’s budget in a responsible manner during this extraordinary national economic downturn.”

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