Press "Enter" to skip to content

TX Sales Tax Revenue $4.1bln in December

From Texas Comptroller Glenn Hegar.

(AUSTIN) Texas Comptroller Glenn Hegar said today that state sales tax revenue totaled $4.06 billion in December, 3.2 percent more than in December 2022. Most of December’s sales tax revenue is based on sales made in November and remitted to the agency in December.

“Overall sales tax collections grew moderately compared with December 2022, with most of the increase among major sectors coming from the manufacturing and service sectors,” Hegar said. “Among the sectors driven primarily by business spending, the construction and manufacturing sectors showed modest gains compared to a year ago. Receipts from the mining sector, which have been up sharply since the pandemic, were down slightly relative to December last year. Wholesale trade remittances were down once again.

“Remittances from the retail trade sector were up slightly, led again by strong growth in electronic shopping. Receipts from home improvement centers and furniture and home goods stores continued to slide in December as decreased consumer spending on those goods persisted following the pandemic peak.

“Service sector receipts grew moderately last month as consumers continue to spend on live entertainment. Receipts from restaurants were up from a year ago but at less than the inflation rate for food away from home.”

Total sales tax revenue for the three months ending in December 2023 was up 2.2 percent compared with 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.

Texas collected the following revenue from other major taxes:

  • motor vehicle sales and rental taxes — $522 million, down 8 percent from December 2022;
  • motor fuel taxes — $317 million, up less than 1 percent from December 2022;
  • oil production tax — $501 million, down 3 percent from December 2022;
  • natural gas production tax — $171 million, down 54 percent from December 2022;
  • hotel occupancy tax — $41 million, down 29 percent from December 2022; and
  • alcoholic beverage taxes — $136 million, down less than 1 percent from December 2022.
Share This Article:
© 2024