State Sales Tax Revenue Totaled $2.7 Billion in March.
(AUSTIN) — Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $2.69 billion in March, 2.9 percent more than in March 2019. The modest growth came from sales tax revenue led by collections from the retail trade sector. The tax collections from oil and gas-related sectors declined from a year ago. The majority of March sales tax revenue is based on sales made in February and remitted to the agency in March. Total sales tax revenue in the fiscal year 2020 through March 2020 was up 5 percent compared to the same period a year ago.
Comptroller’s Office Extends Franchise Tax Deadline
In response to the COVID-19 pandemic and to provide Texas businesses relief, Texas Comptroller Glenn Hegar announced today that his agency is automatically extending the due date for 2020 franchise tax reports to July 15 to be consistent with the Internal Revenue Service (IRS). The due date extension applies to all franchise taxpayers. It is automatic, and taxpayers do not need to file any additional forms.