Tennessee

State of Tennessee Revenues Report for January 2024

Published

2 years ago

February 19, 2024

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

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Tennessee

Big Orange Caravan to hit Kingsport April 30th

Published

4 hours ago

March 3, 2026

Press Room

Big Orange Caravan to hit Kingsport April 30th

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

Tennessee releases availability update on star Nate Ament following injury

Published

16 hours ago

March 3, 2026

Press Room

Tennessee releases availability update on star Nate Ament following injury

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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Tennessee

Volunteers needed for community-wide cleanup day with Hands On Nashville

Published

1 day ago

March 2, 2026

Press Room

Volunteers needed for community-wide cleanup day with Hands On Nashville

NASHVILLE, Tenn. (WTVF) — On Thursday, Hands On and NewsChannel 5 staff will come together for a community-wide cleanup day.

The event, sponsored by NewsChannel 5 will take place from 9:45 a.m. to 12:15 p.m. on Thursday, March 5 as we assist in winter storm cleanup.

If you’d like to help volunteer, you can sign up here.

Rhori, Carrie, Lelan and Brittany will all be helping assist residents removing and sorting debris.

Important details for those wishing to volunteer:

This may require lifting and carrying objects that weigh 20+ pounds.
Closed-toe shoes and long pants required. Heavy soles and steel toes preferred. Gloves and safety goggles will be provided, or you may bring your own.
Current tetanus vaccination recommended. Chainsaws, utility crews, and heavy equipment will be active in the area.
Volunteers under the age of 18 are prohibited from participating.
Eat before you arrive and bring a water bottle, if needed.

Nashville’s Jefferson Street Sound Museum named stop on U.S. Civil Rights Trail

The Jefferson Street Sound Museum is a great little gem in North Nashville. The founder and curator turned his home into a museum to keep the legacy of historic Jefferson street alive. Now, it’s been named a stop on the U.S. Civil Rights Trail. Aaron Cantrell takes us inside.

– Lelan Statom

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