Texas Comptroller Glenn Hegar Tuesday said state sales tax revenue totaled $2.89 billion in February, 3.5 percent more than in February 2019.
“Growth in the state sales tax revenue was led by receipts from the retail trade and information services sectors, while receipts from the construction sector were down from a year ago,” Hegar said. “Growth in tax receipts from retail trade was slightly boosted by collections from online marketplace providers and remote sellers.”
The majority of February sales tax revenue is based on sales made in January and remitted to the agency in February. Total sales tax revenue for the three months ending in February 2020 was up 5.7 percent compared to 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.
In February 2020, Texas collected the following revenue from other major taxes:
- motor vehicle sales and rental taxes — $428.9 million, up 2.1 percent from February 2019;
- motor fuel taxes — $301.2 million, up 0.6 percent from February 2019;
- natural gas production taxes — $136.4 million, down 16.7 percent from February 2019; and
- oil production taxes — $371.8 million, up 38.5 percent from February 2019.
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.