Sales tax returns increase
Local sales tax returns all increased in October when compared with returns from Oct. 2018.
This follows the state trend after Texas Comptroller Glenn Hegar announced state sales tax revenue totaled $2.82 billion in October, seven percent more than in October 2018.
“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.
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.