Sandlin Header 2022
Choctaw County EMS Star Life Conference Header
Hess Bad Boy Header Promo 2024
ETB Advertising Banner Header Terrie 1
ETB Advertising Banner Header Terrie 2
Better View Tree Trimming Header Ad
Cypress Basin Hospice 2023 Header
Mark Patrick Header 2020

State Sales Tax Revenue Totaled Nearly $4 Billion In April

 

(AUSTIN)  Texas Comptroller Glenn Hegar announced that despite a slight dip, state sales tax revenue remained stable at $3.96 billion in April, marking a 3.2 percent decrease compared to April 2023. It’s important to note that the majority of April sales tax revenue is based on sales made in March and remitted to the agency in April, indicating a consistent flow of revenue.

“Monthly state sales tax collections fell compared with a year ago, reflecting a slowdown in spending even while employment and income continue to grow,” Hegar said. “A continuing downtrend in remittances from business-related sectors and a drop in receipts from the retail trade sector accounted for the decline. This trend in overall tax collections has been expected for some time now.

“Remittances from the significant sectors driven by business spending were all down last month compared with a year ago, as has been the trend this fiscal year. Meanwhile, receipts from the consumer-driven retail trade sector also came in below April 2023 totals, with receipts from most retail subsectors down. Receipts from online merchants, however, increased compared with a year ago, just slightly ahead of the rate of general inflation.

“Restaurant receipts grew moderately, though at less than the inflation rate for food away from home.”

Total sales tax revenue for the three months ending in April 2024 showed a promising growth of 0.7 percent compared with the same period a year ago. This underscores the resilience of our state’s economy, with sales tax continuing to be 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 central taxes:

  • Motor vehicle sales and rental taxes — $468 million, down 8 percent from April 2023;
  • Motor fuel taxes — $332 million, up 4 percent from April 2023;
  • Oil production tax — $518 million, up 15 percent from April 2023;
  • Natural gas production tax — $170 million, down 16 percent from April 2023;
  • Hotel occupancy tax — $83 million, down less than 1 percent from April 2023; and
  • Alcoholic beverage taxes — $164 million, up less than 1 percent from April 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.