The Department of Revenue in Nashville is hosting a free webinar on January 28 at 9 am Central time to discuss the liquor by the drink (LBD) tax. This online session will cover various aspects of the LBD tax, including who is liable for it, registration requirements, how to file the LBD tax return, applicable exemptions, and the maintenance of records. This webinar serves as a continuation of the department’s recent Alcohol Taxes Webinar.
Interested participants can register for the LBD webinar by visiting the following link. This session is part of a series of free webinars that the department offers to the public. More information about these webinars can also be found on the Department of Revenue’s website.
The Department of Revenue is tasked with the administration of state tax laws, motor vehicle title and registration laws, and the collection of taxes and fees associated with these laws. It is responsible for collecting approximately 87 percent of the total state revenue. In the fiscal year 2024, the department collected $22.2 billion in state taxes and fees, and more than $4.7 billion in taxes and fees for local governments. For further information about the department, visit the Department of Revenue’s website.
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Tennessee December Tax Revenues Exceed Estimates
Tennessee’s December tax revenues reached $1.9 billion, surpassing budget estimates by $39.7 million, despite being lower than the previous year. Sales and corporate tax receipts showed notable growth, with sales taxes exceeding estimates by 0.46% and corporate taxes by 5.90%. Commissioner Jim Bryson highlighted the need for vigilant financial oversight, as year-to-date revenues were slightly below budget expectations. Detailed performance data is available on the Tennessee Finance and Administration website.