Sales Tax Revenue Totaled $2.8 Billion in January
(AUSTIN) — Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $2.8 billion in January, 6 percent more than in January 2018.
“The growth in sales tax collections was primarily due to continued strong spending in oil- and gas-related sectors,” Hegar said. “Remittances from restaurants also grew, while those from retail trade were flat relative to a year ago.”
Total sales tax revenue for the three months ending in January 2019 was up 6.1 percent compared to the same period a year ago. The sales tax is the largest source of state funding for the state budget, accounting for 57 percent of all tax collections.
In January 2019, Texas collected the following revenue from other significant taxes:
Oil production taxes — $274.5 million, down 3.3 percent from January 2018, the first such decline since December 2016. Also, monthly oil production tax revenues were the lowest since December 2017; natural gas production taxes — $152.9 million, up 24.3 percent from January 2018; motor vehicle sales and rental taxes — $425.7 million, down 0.5 percent from January 2018; and
motor fuel taxes — $305.1 million, up 0.2 percent from January 2018.
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.