AUSTIN — Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.85 billion in January, 25.3 percent more than in January 2021. The majority of January sales tax revenue is based on sales made in December and remitted to the agency in January.
Year-over-year increases for most tax revenues continue to be affected by base effects: Revenue collections in 2021, to which this year’s collections are compared, were suppressed by the pandemic. Compared to January 2020, sales tax collections were up 24.9 percent.
“January state sales tax collections reached another all-time monthly high, with receipts from almost all major economic sectors rocketing above year-ago levels,” Hegar said. “Fueled by continued strength in both business and consumer spending, receipts from most sectors strongly surpassed pre-pandemic levels.
“Business spending drove double-digit increases in receipts from the oil and gas mining, manufacturing, wholesale trade, and construction sectors, with receipts from only oil and gas mining remaining below pre-pandemic levels.
“A strong Christmas shopping season continued to drive double-digit increases in receipts from retail trade. The greatest gains came from clothing and accessories stores and health and personal care stores. Receipts from general merchandisers also exhibited very strong growth, especially from big-box retailers and mall-based department stores.
“Receipts from restaurants, a sector still depressed a year ago, were again up sharply and well above pre-pandemic levels.”
Total sales tax revenue for the three months ending in January 2021 was up 23 percent compared to the same period a year ago and 21.7 percent compared to 2020. Sales tax is the largest source of state funding for the state budget, accounting for 59 percent of all tax collections.
Texas collected the following revenue from other major taxes, most of which were up sharply from a year ago due to base effects:
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