Texas Comptroller Glenn Hegar: State Sales Tax Revenue Totaled $3.9 Billion in June


“Receipts from consumer spending-driven sectors were up slightly overall compared with a year ago, with growth in receipts from both retail trade and the services sectors."

Texas Insider Report: AUSTIN, Texas Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.94 billion in June, 0.4 percent more than in June 2023. The majority of June sales tax revenue is based on sales made in May and remitted to the agency in June.
 
“Monthly state sales tax collections were essentially flat compared to collections in June 2023, following the strong gains seen in May,” Hegar said. “The overall trends we have seen through the first three quarters of fiscal 2024 were evident again in June.

“Sales tax remittances from the major sectors driven primarily by business spending were generally down, except for modest growth in receipts from the construction sector.

“Receipts from consumer spending-driven sectors were up slightly overall compared with a year ago, with growth in receipts from both retail trade and the services sectors. Within the retail trade sector, remittances from general merchandise stores led the way.”

Total sales tax revenue for the three months ending in June 2024 was up 0.5 percent compared with the same period a year ago. Sales tax is the largest source of state funding for the state budget, accounting for 57 percent of all tax collections.

Texas collected the following revenue from other major taxes:
  • motor vehicle sales and rental taxes — $560 million, down 6 percent from June 2023;
  • motor fuel taxes — $340 million, up 5 percent from June 2023;
  • oil production tax — $493 million, up 8 percent from June 2023;
  • natural gas production tax — $171 million, down 7 percent from June 2023;
  • hotel occupancy tax — $71 million, up less than 1 percent from June 2023; and
  • alcoholic beverage taxes — $160 million, up 2 percent from June 2023. 
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 our updated Sources of Revenue publication.
 
Texas Comptroller Glenn Hegar by is licensed under
ad-image
image
07.23.2024

TEXAS INSIDER ON YOUTUBE

ad-image
image
07.22.2024
image
07.22.2024
ad-image