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State Sales Tax Revenue Totaled $2.7 Billion in December

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AUSTIN — Texas Comptroller Glenn Hegar said today that state sales tax revenue totaled $2.75 billion in December, 12.3 percent more than in December 2016. 

“Double-digit growth in sales tax revenue was fueled by collections from oil- and gas-related sectors as well-drilling and completion continued to rebound,” Hegar said. “But growth in tax receipts was notable across all major economic sectors, including retail trade and restaurants.”

Total sales tax revenue for the three months ending in December 2017 was up 10.2 percent compared to the same period a year ago. Sales tax revenue is the largest source of state funding for the state budget, accounting for 58 percent of all tax collections.

Revenue from other major taxes on motor vehicle sales and rentals, motor fuels and oil and natural gas production also rose in December 2017:   

  • motor vehicle sales and rental taxes — $414.3 million, up 16.1 percent from December 2016 (vehicle purchases to replace cars damaged by Hurricane Harvey continued to boost those tax collections);
  • motor fuel taxes — $303.7 million, up 4.9 percent from December 2016; and
  • oil and natural gas production taxes — $396.4 million, up 73.4 percent from December 2016. 

For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch.

MONTHLY STATE REVENUE WATCH

Updated January 2018

To promote better understanding of the state’s finances, Revenue Watch now reports revenue in two ways:

All Funds (Excluding Trusts)

The all-funds report shows revenues received from all sources that are available for spending on all state governmental purposes. All funds include general revenue-related funds, general revenue dedicated funds, federal income and other revenues.

General Revenue-Related Funds

The report for general revenue-related funds shows revenues designated for general-purpose spending.

Both reports present revenue on a cash basis by month of collection, though not all revenues are actually received monthly. For example, firms remitting sales taxes may do so monthly, quarterly or annually, generally depending on their size. The franchise tax is remitted once a year, usually in May.

Some sources of revenue include:

  • taxes
  • federal income
  • land income
  • fees
  • interest
  • lottery proceeds

The largest sources of state tax revenue are:

  • sales taxes
  • the franchise tax (the state’s primary business tax)
  • motor vehicle-related taxes
  • taxes on crude oil and natural gas production

All amounts shown reflect net revenue, which is gross revenue less any discounts, allowances, adjustments or refunds allowed by law. These reports are updated monthly.

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