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State Sales Tax Revenue Totaled $2.6 Billion in July


(AUSTIN)  Texas Comptroller Glenn Hegar said today that state sales tax revenue totaled $2.56 billion in July, 7.9 percent more than in July 2016.
Sales tax receipts from all major economic sectors were up compared to last year, Hegar said. The most notable increases were from oil- and gas-related industries, as spending on well development continues to rebound. Despite the recent uptick, sales tax revenue remains in line with recent estimates from my office.
Total sales tax revenue for the three months ending in July 2017 is up 7.3 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 56 percent of all tax collections. Motor vehicle sales and rental taxes, motor fuel taxes and oil and natural gas production taxes also are large revenue sources for the state. 
In July 2017, Texas collected the following revenue from those taxes:
  * motor vehicle sales and rental taxes  $384.7 million, down 7.3 percent from July 2016; 
  * motor fuel taxes  $308.2 million, up 3.7 percent from July 2016; and 
  * oil and natural gas production taxes  $251.5 million, up 24.6 percent from July 2016. 
For details on all monthly collections, visit the Comptrollers Monthly State Revenue Watch [ ].

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