Tennessee
State of Tennessee Revenues Report for January 2024
NASHVILLE – February 16, 2024 – Tennessee revenues for the month of January exceeded collections from January of 2023, but were less than the budgeted estimates. Finance and Administration Commissioner Jim Bryson today reported that tax revenues were $1.95 billion, which is $15.8 million more than January of last year, but $97.8 million less than the budgeted estimate. The total growth rate for the month was 0.82 percent.
“Total tax receipts for the month of January exceeded reported collections from last year, but performance against our monthly estimates continues to lag,” Bryson said. “State sales tax receipts, reflecting consumer spending during the December 2023 Christmas shopping season, grew modestly. Corporate taxes, or franchise and excise taxes, were less than this time last year, but were nearly in line with our estimates for the month. Furthermore, real estate mortgage tax collections, recorded within the privilege tax, continue to remain low as they were less than monthly estimates. All other taxes combined were $5.4 million above our revenue estimates and increased 6.14 percent compared to January 2023.
“While we are encouraged to see some moderate revenue growth, we will continue to monitor economic activity and revenue trends to ensure fiscal stability.”
On an accrual basis, January is the sixth month in the 2023-2024 fiscal year.
General fund revenues were less than the budgeted estimates in the amount of $95.2 million, while the four other funds that share in state tax revenues were $2.6 million less than the estimates.
Sales tax revenues were $86.1 million less than the estimate for January and the growth rate was 0.98 percent. For six months, revenues are $72 million less than estimated and the year-to-date growth rate is 1.34 percent.
Franchise and excise tax revenues were $1.9 million less than the January budgeted estimate. The growth rate compared to January 2023 was negative 2.47 percent. Year-to-date franchise and excise tax revenues are 10.90 percent lower than this same time last year and $234.2 million less than estimated.
Gasoline and motor fuel revenues increased by 2.97 percent compared to January 2023 and were $1.5 million more than the budgeted estimate of $108.6 million. For six months, revenues are more than estimates by $3.7 million.
Motor vehicle registration revenues were $1.6 million more than the January estimate, but on a year-to-date basis are $3.1 million less than the estimate.
Tobacco tax revenues were $0.4 million less than the budgeted estimate of $15 million, and for six months are $9 million less than the budgeted estimate.
Privilege tax revenues were $15.3 million less than the January estimate, and on a year-to-date basis, August through January, revenues are $79 million less than the estimate.
Business tax revenues were $3.1 million more than the January estimate. For six months revenues are $1.2 million more than the budgeted estimate.
Mixed drink, or liquor-by-the-drink, taxes were $1 million more than the January estimate, and on a year-to-date basis, revenues are $4.1 million more than the budgeted estimate.
All other taxes were less than estimates by a net of $1.3 million.
Year-to-date total revenues are $377.7 million less than the budgeted estimate. General fund revenues are $378.8 million less than the estimate, and the four other funds total $1.1 million more than estimates. The growth rate for six months is negative 0.98 percent.
The budgeted revenue estimates for 2023-2024 are based upon the State Funding Board’s consensus recommendation from November 28, 2022, and adopted by the first session of the 113th General Assembly in April 2023. Also incorporated in the estimates are any changes in revenue enacted during the 2023 session of the General Assembly. These estimates are available on the state’s website at https://www.tn.gov/content/tn/finance/fa/fa-budget-information/fa-budget-rev.html.
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Source: TN Dept. of Finance
Published on Mar. 3, 2026
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According to ESPN’s latest NFL mock draft, three former Tennessee Volunteers players are projected to be selected in the top 60 picks of the upcoming 2026 NFL Draft. Cornerbacks Jermod McCoy and Colton Hood are both projected to be first-round picks, while wide receiver Chris Brazzell II is projected to be a second-round selection.
Why it matters
The strong NFL Draft projections for Tennessee players highlight the continued talent development and success of the Volunteers football program under head coach Josh Heupel. If these projections hold true, it would mark the first time Tennessee has had two first-round picks and three players selected in the top 60 overall during Heupel’s tenure.
The details
Cornerback Jermod McCoy is projected to be selected 29th overall by the Los Angeles Rams, despite not participating in on-field workouts at the NFL Combine due to a previous ACL injury. Teammate Colton Hood is projected to be the final pick of the first round, going 32nd overall to the Seattle Seahawks. Wide receiver Chris Brazzell II impressed at the Combine with a 4.37 40-yard dash and is projected to be a second-round pick, going 60th overall to the Buffalo Bills.
- The NFL Combine was held in late February 2026.
- Tennessee’s Pro Day workouts are scheduled for the end of March 2026.
- The 2026 NFL Draft will take place in April-May 2026.
The players
Jermod McCoy
A cornerback for the Tennessee Volunteers who is projected to be a first-round pick in the 2026 NFL Draft, despite missing the 2025 season due to an ACL injury.
Colton Hood
A cornerback for the Tennessee Volunteers who is projected to be a first-round pick, going 32nd overall to the Seattle Seahawks in the 2026 NFL Draft.
Chris Brazzell II
A wide receiver for the Tennessee Volunteers who impressed at the NFL Combine with a 4.37 40-yard dash and is projected to be a second-round pick in the 2026 NFL Draft.
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What they’re saying
“If we’re going strictly by talent, McCoy is a top-10 prospect in this class. But he hasn’t played a game since 2024, missing all of last season after suffering an ACL tear in January 2025. We’re still not sure where he’s at in his recovery, as he did not participate in testing or drills at the combine. This gives the Rams — who haven’t drafted a corner in the first round since 2006 or before Day 3 since 2019 — the potential to get a steal here. McCoy is an easy mover who has squeaky-clean technique.”
— Jordan Reid, ESPN Analyst (ESPN)
“The reigning champions have a clear need at corner, as Josh Jobe and Riq Woolen are both scheduled to be free agents. Hood is a scheme-versatile player who can thrive in press man while also having the fluidity to excel in zone. A former all-state center fielder in high school, Hood’s ball skills frequently show up on tape (10 pass breakups and an interception last season). With his poised technique and wrap-up-and-finish tackling, he would fit well on the outside of Mike Macdonald’s secondary.”
— Jordan Reid, ESPN Analyst (ESPN)
“The Bills need someone who can separate on the outside, and Brazzell is an ‘X’ receiver who can be a deep vertical threat. He can also sink his weight and run a true route tree, making him a good fit with quarterback Josh Allen.”
— Jordan Reid, ESPN Analyst (ESPN)
What’s next
Tennessee’s Pro Day workouts are scheduled for the end of March 2026, where McCoy plans to participate in on-field drills to further showcase his recovery from the ACL injury. Strong performances at the Pro Day could potentially push McCoy back up draft boards into the top half of the first round.
The takeaway
The strong NFL Draft projections for Tennessee players demonstrate the continued talent development and success of the Volunteers football program under head coach Josh Heupel. If these projections hold true, it would mark a significant milestone for the program, with Tennessee potentially having two first-round picks and three players selected in the top 60 overall for the first time during Heupel’s tenure.
KNOXVILLE, Tenn. (WCYB) — Tennessee Athletics’ “Big Orange Caravan” presented by Pilot will roll into the Tri-Cities on April 30, bringing some of the university’s most recognizable faces to Kingsport.
The statewide tour, a collaboration between Tennessee Athletics and the UT Knoxville Office of Alumni Affairs, features Vice Chancellor/Director of Athletics Danny White, men’s basketball coach Rick Barnes, women’s basketball coach Kim Caldwell, head football coach Josh Heupel and “Voice of the Vols” Mike Keith.
The Tri-Cities stop is scheduled for Thursday, April 30, at Meadowview Convention Center, 1901 Meadowview Parkway, Kingsport, Tennessee. Doors open at 5 p.m., followed by a meet-and-greet session with the headliners from 5:30-6:15 p.m. The program begins at 6:15 p.m.
Hosted by Keith, the evening will include stories, program insight and a question-and-answer session with Tennessee’s athletics leaders and coaches. The UT Spirit Squads also will be in attendance.
Tickets are $30, plus taxes and fees, and include light food options. A cash bar, along with additional light food and appetizers, will be available.
Of each ticket sold, $5 will benefit the local UT Alumni chapter’s scholarship endowment and $10 will go toward the My All Campaign.
The Tri-Cities event is the final stop of the three-city spring tour. The caravan opens in Chattanooga on April 28 before heading to Nashville on April 29. As announced last spring, Chattanooga and Memphis will alternate as tour stops each year.
The Big Orange Caravan is designed to connect Tennessee coaches and administrators with fans across the state, offering behind-the-scenes insight and celebrating the support of the Volunteer community.
Tickets for the Tri-Cities stop can be purchased at https://www.gofevo.com/event/BOCTriCities26
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Tennessee star Nate Ament will miss a game against South Carolina on Tuesday, the program announced on Monday night. Ament was injured during a weekend contest against Alabama.
Ament was injured when he was rolled up on while going for a loose ball. His leg twisted awkwardly underneath him, and Ament immediately went to the locker room.
He would return briefly in the second half. Nate Ament even made a basket, but then he appeared to tweak his injury shortly after and returned to the bench. He did not re-enter the contest.
Tennessee issued a short statement on his availability against South Carolina. The program released the statement on Twitter.
“Nate Ament will not play tomorrow night at South Carolina,” Tennessee wrote. “Ament is out due to a right leg injury sustained Saturday against Alabama. The timetable for his return is to be determined and he will continue to be evaluated.”
A 6-foot-10, 207-pound freshman, Ament has been one of Tennessee’s best players all season. He is the team’s second-leading scorer, averaging 17.4 points per game. He’s also the team’s leading rebounder, securing 6.4 rebounds per game.
Nate Ament signs NIL deal with Reebok
On3’s Nick Schultz recently published a list of some of the top brands to sign college basketball freshmen to NIL deals. Ament was one of the top signees.
In addition to Arkansas star Darius Acuff, Ament signed with Reebok this year. Ament was the crown jewel of Tennessee’s recruiting class. He signed with the brand in October 2024 while he was the No. 4 overall player from the 2025 cycle, according to the Rivals Industry Ranking.
Nate Ament sits second on the Tennessee roster with 17.4 points per game, and his 6.4 rebounds on average leads the Vols. Additionally, his $1.3 million On3 NIL Valuation ranks No. 14 in college basketball and No. 56 in the On3 NIL 100.
On3’s Nick Schultz also contributed to this report.
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