Tennessee revenues up $115M in August over projections

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NASHVILLE, Tenn. — Tennessee officials say revenues for August came in $115.1 million higher than state projections amid the coronavirus pandemic.

The Tennessee Department Finance & Administration says last month’s revenues of $1.2 billion also topped the state’s August 2019 performance by $22 million.

Finance Commissioner Butch Eley says the August sales tax receipts reflect consumer activity for July, which continued to outperform expectations, with federal stimulus money playing a big part.

Eley says tax receipts from sellers of building materials, food, furniture and home appliances increases significantly compared to last August, while apparel stores, many small retailers, restaurants and bars continue to suffer losses amid decreased sales.

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