Texas Comptroller Glenn Hegar announced state sales tax revenue totaled $2.89 billion in February, 3.5 percent more than in February 2019. The majority of February sales tax revenue is based on sales made in January and remitted to the agency in February. Total sales tax revenue for the three months ending in February 2020 was up 5.7 percent compared to 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.
In February 2020, Texas collected the following revenue from other major taxes:
- Motor vehicle sales and rental taxes — $428.9 million, up 2.1 percent from February 2019;
- Motor fuel taxes — $301.2 million, up 0.6 percent from February 2019;
- Natural gas production taxes — $136.4 million, down 16.7 percent from February 2019; and
- Oil production taxes — $371.8 million, up 38.5 percent from February 2019.
For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch.