Austin Local News
October Sales Tax Generated $2.8-Billion for Texas
Texas Comptroller Glenn Hegar announced this week he will send cities, counties, transit systems and special purpose taxing districts $849.6 million in local sales tax allocations for November, 4-percent more than in November 2018. These allocations are based on sales made in September by businesses that report tax monthly, and sales made in July, August and September by quarterly filers.
State sales tax revenue totaled $2.82-billion in October.
“Growth in state sales tax revenue was apparent across all major economic sectors,” Hegar said. “The most notable growth was in receipts from the construction, wholesale trade and information services sectors”.
Total sales tax revenue for the three months ending in October 2019 was up 4.1 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 October 2019, Texas collected the following revenue from other major taxes:
- motor vehicle sales and rental taxes — $484.5 million, up 10.5 percent from October 2018;
- motor fuel taxes — $311.8 million, up 4.6 percent from October 2018;
- natural gas production taxes — $84.4 million, down 22.8 percent from October 2018; and
- oil production taxes — $346.3 million, up 4.8 percent from October 2018.