Texas Comptroller Glenn Hegar today released totals for fiscal 2022 state revenues, in addition to announcing monthly state revenues for August. The Economic Stabilization Fund and State Highway Fund both receive funding from oil and natural gas severance taxes. Within 90 days, the Comptroller’s office will deposit $3.64 billion in each of those funds, up from the $1.46 billion deposited in each fund in November 2021. Hegar also said state sales tax revenue totaled $3.77 billion in August, 13 percent more than in August 2021.
- General Revenue-related revenue for fiscal 2022 totaled $76.47 billion, up 26.4 percent from fiscal 2021.
- All Funds revenue was $183.34 billion, up 7.5 percent from fiscal 2021.
- All Funds tax collections were $77.21 billion, up 25.6 percent from fiscal 2021.
- Sales tax revenue was $42.97 billion, up 19.3 percent from fiscal 2021.
- Motor vehicle sales and rental tax revenue was $6.45 billion, up 12.5 percent from fiscal 2021.
- Franchise tax revenue was $5.67 billion, up 25.2 percent from fiscal 2021.
- Oil production tax revenue was $6.36 billion, up 84.4 percent from fiscal 2021.
- Natural gas production tax revenue was $4.47 billion, up 185 percent from fiscal 2021.