Record amount of sales taxes paid into Texas coffers
Published: Thu, 03/02/23
Record amount of sales taxes paid into Texas coffers
Star Local MediaBy Bethany Blankley | The Center Square contributor
Mar 2, 2023
(The Center Square) – Individuals and businesses in Texas continue to pay a record amount of sales taxes.
January sales tax revenue remitted to the state in February totaled $3.68 billion, state Comptroller Glenn Hegar says, 14.2% higher than remittances received in February 2022, led by taxes remitted from the oil and natural gas industry.
Total sales tax revenue for the three months ending in February 2023 was up 10.2% compared with the same period a year ago, the comptroller’s office said. Sales taxes are the largest source of state funding for the state budget, accounting for 56% of all tax collections.