State Sales Tax Revenue Totaled $2.4 Billion In September
Texas Comptroller Glenn Hegar said today that state sales tax revenue totaled $2.36 billion in September, 10.4 percent more than in September 2016…
(AUSTIN) — Texas Comptroller Glenn Hegar said today that state sales tax revenue totaled $2.36 billion in September, 10.4 percent more than in September 2016.
“The double-digit growth in sales tax revenue was due to increased spending in the oil- and natural gas-related sectors,” Hegar said. “But moderate growth was evident in sectors fueled primarily by consumer spending, including retail trade and telecommunications services.”
Total sales tax revenue for the three months ending in September 2017 is up 5.5 percent compared to the same period a year ago.
Sales tax revenue is the largest source of state funding for the state budget, accounting for 58 percent of all tax collections. Motor vehicle sales and rental taxes, motor fuel taxes and oil and natural gas production taxes also are large revenue sources for the state.
In September 2017, Texas collected the following revenue from those taxes:
- motor vehicle sales and rental taxes — $385.5 million, down 2.6 percent from September 2016;
- motor fuel taxes — $293.8 million, down 0.1 percent from September 2016; and
- oil and natural gas production taxes — $293.2 million, up 35.8 percent from September 2016.
