"Double-digit growth continued from the mining, construction, manufacturing and wholesale trade sectors, fueled in part by high inflation in the prices of building materials."
Texas Insider Report: AUSTIN, Texas – Texas Comptroller Glenn Hegar said earlier today that State Sales Tax Revenues totaled $3.82 billion in October, 11.9% more than in October 2021. Sales tax is the largest source of state funding for the state budget, accounting for 56% of all tax collections.
Total sales tax revenue for the three months ending in October 2022 was up 14% compared to the same period a year ago.
“Rapid growth in state sales tax revenue was again led by business spending,” said Hegar.
"Double-digit growth in receipts continued from the mining, construction, manufacturing and wholesale trade sectors, fueled in part by high inflation in the prices of building materials and other business inputs.
“Receipts from restaurants and retail trade were up from a year ago at about the respective rates of inflation in prices for those sectors, possibly indicating a reduction in real per capita spending for those items as rising costs for housing and groceries claim larger shares of household budgets.
“Within retail trade, the greatest growth was in receipts from automobile and parts dealers, online shopping and general merchandise stores. Receipts from furniture and home furnishings stores, and sporting goods and hobby stores, were down from the previous year,” Hegar said.
Texas collected the following revenue from other major taxes (by percentage of increase per category):
- Natural Gas Production Tax — $410 million, up 59% from October 2021
- Oil Production Tax — $544 million, up 33% from October 2021
- Hotel Occupancy Tax — $66 million, up 22% from October 2021, and
- Alcoholic Beverage Taxes — $150 million, up 16% from October 2021
- Motor Vehicle Sales & Rental Taxes — $588 million, up 8% from October 2021
- Motor Fuel Taxes — $312 million, down 3% from October 2021
For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch.
For an extensive history of tax policy developments and fees since 1972, visit the Texas Comptroller's updated Sources of Revenue publication.
