State Sales Tax Revenue Totaled $3.8 Billion in April – Alice Echo News Journal
By submitted [email protected]
(AUSTIN) — Texas Comptroller Glenn Hegar recently said state sales tax revenue was $3.83 billion in April, up 12.8% from April 2021.
The majority of April sales tax revenue is based on sales made in March and remitted to the agency in April.
“State sales tax collections reached a new high for the month of April, with double-digit growth reflecting both inflation and the continued expansion of real economic activity and employment,” Hegar said.
“The strongest growth was in revenue from sectors driven by business spending, particularly the oil and gas mining sector, which exceeded pre-pandemic levels as capital spending in the area are increasing. Receipts from the construction, manufacturing and wholesale trade sectors continued to post double-digit growth.
“Among sectors driven by consumer spending, the strongest revenue growth was in arts and entertainment services, with revenue from sporting events, live music and other entertainment, and fitness clubs exceeding far from the levels of the previous year. Restaurant receipts also continued to post double-digit growth.
“Retail revenue remains strong, although somewhat higher than a year ago when retail spending surged after COVID restrictions ended. Slowing retail revenue growth could signal a return of consumer spending to pre-pandemic patterns. Spending growth in segments that had benefited from the pandemic appeared to stagnate, as revenue at hardware and furniture stores was little changed from a year ago, while revenue at sporting goods stores and leisure have declined.
Total sales tax revenue for the three months ending April 2022 increased 22.3% from the same period a year ago. Sales tax is the largest source of state funding for the state budget, accounting for 59% of all tax revenue.
Texas collected the following revenues from other major taxes:
• Motor vehicle sales and lease taxes – $525 million, up 39% from April 2021;
• fuel taxes – $335 million, up 3% compared to April 2021;
• Oil Production Tax – $666 million, the highest monthly collections on record, up 99% from April 2021;
• tax on natural gas production — $339 million, up 46% compared to April 2021;
• Hotel occupancy tax – $76 million, the highest monthly collections ever, up 49% from April 2021; and
• liquor taxes – $152 million, the highest monthly collections on record, up 27% from April 2021.
For details of all monthly collections, visit the Comptroller’s Monthly State Revenue Watch. For a detailed history of the evolution of tax policies and fees since 1972, visit our updated Sources of Revenue publication.