Tennessee's October revenues were $48.7 million more than estimated and $115 million higher than October of last year, according to Department of Finance and Administration Commissioner Jim Bryson.
Tax revenues for the first three months of the 2026 fiscal year are up 1.59% from forecasts, according to the revenue report.
Franchise and excise tax collections exceeded estimates by 11.58% with $7.7 million collected. The year-to-date numbers are still below estimates by $18.9 million, a decline attributed to corporate tax cuts approved by the Tennessee General Assembly in 2024.
“We are encouraged that revenues continue to remain ahead of projections year-to-date," Bryson said in a statement. "However, we will continue to monitor economic activity and revenue trends to ensure fiscal stability."
