HEGAR: Texas Sales Tax Revenue Up 6.2 Compared to November 2018

Natural Gas Taxes decline 33.1 Oil Production Taxes down 1.8 from November 2018

class=wp-image-119210

AUSTIN Texas (Texas Insider Report) November State Sales Tax growth was led by collections from the Wholesale Trade the Construction and the Restaurant sectors while collections from the Oil & Gas Mining sector have declined since last year" said Texas Comptroller Glenn Hegar earlier today announcing that Total Sales Tax Revenue for the three months ending in November 2019 was up 4.8 compared to the same period a year ago.

Texas State Sales Tax Revenue totaled $3.2 Billion in November representing a 6.2 increase from November 2018.

Sales tax is the largest source of state funding for the state budget accounting for 57 of all tax collections.

Texas realized an increase in the states sales tax revenue collections from remote sellers and online marketplace providers pursuant to new collection requirements resulting from the implementation of the U.S. Supreme Courts decision Wayfair v. South Dakota and passage of House Bill 1525 during the 86th Texas Legislature" noted Hegar.

In November 2019 Texas collected the following revenue from other major tax sources:

class=wp-image-119215/
  • Motor Vehicle Sales & Rental Taxes $422.3 million up 4.2 from November 2018;
  • Motor Fuel Taxes $327.3 million up 5.1 from November 2018;
  • Natural Gas Production Taxes $119.6 million down 33.1 from November 2018; and
  • Oil Production Taxes $344.4 million down 1.8 from November 2018.

For details on all monthly collections visit the Comptrollers Monthly State Revenue Watch.

For an extensive history of tax policy developments and fees since 1972 visit the Comptrollers updated Sources of Revenue publication.

N/A by N/A is licensed under N/A N/A

ad-image
image
06.25.2020

TEXAS INSIDER ON YOUTUBE

ad-image
image
06.22.2020
image
06.19.2020
ad-image