Texas Insider Report: AUSTIN Texas Texas Comptroller Glenn Hegar said today that state sales tax revenue in January was $2.56 billion up 11.2 percent compared to January 2014.
The growth in sales tax revenues was led by business spending" Hegar said. Receipts from the manufacturing and wholesale trade sectors were up sharply. In spite of the recent decline in crude oil prices tax receipts from the oil and natural gas mining sector also grew strongly.
This allocation marks the 58th consecutive month of year-over-year growth and is indicative of a dynamic and diverse economy that continues to generate business investment and spending in Texas Hegar added. My office will continue to carefully monitor the impact that lower oil prices will have on our states economy but these sales tax allocation numbers are an encouraging sign of continued strength."
Hegar will send cities counties transit systems and special purpose taxing districts their February local sales tax allocations totaling $873.1 million up 8.9 percent compared to February 2014.
For details of February sales tax allocations to individual cities counties transit systems and special purpose districts locate the Monthly Sales Tax Allocation Comparison Summary Reports on the Comptrollers website at www.comptroller.texas.gov/taxinfo/allocsum/compsum.html.
Texas Insider Report: AUSTIN Texas Texas Comptroller Glenn Hegar said today that state sales tax revenue in January was $2.56 billion up 11.2 percent compared to January 2014.
The growth in sales tax revenues was led by business spending" Hegar said. Receipts from the manufacturing and wholesale trade sectors were up sharply. In spite of the recent decline in crude oil prices tax receipts from the oil and natural gas mining sector also grew strongly.
This allocation marks the 58th consecutive month of year-over-year growth and is indicative of a dynamic and diverse economy that continues to generate business investment and spending in Texas Hegar added. My office will continue to carefully monitor the impact that lower oil prices will have on our states economy but these sales tax allocation numbers are an encouraging sign of continued strength."
Hegar will send cities counties transit systems and special purpose taxing districts their February local sales tax allocations totaling $873.1 million up 8.9 percent compared to February 2014.
For details of February sales tax allocations to individual cities counties transit systems and special purpose districts locate the Monthly Sales Tax Allocation Comparison Summary Reports on the Comptrollers website at www.comptroller.texas.gov/taxinfo/allocsum/compsum.html.
