Texas Comptroller Glenn Hegar has announced state sales tax revenue totaled $2.74 billion in July, 6.9 percent more than in July 2017. Total sales tax revenue for the three months ending in July 2018 was up 10.2 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 58 percent of all tax collections.
Revenue from other major taxes on motor vehicle sales and rentals, motor fuels and oil and natural gas production also rose in July 2018:
- motor vehicle sales and rental taxes — $437.1 million, up 13.6 percent from July 2017;
- motor fuel taxes — $312.9 million, up 1.5 percent from July 2017; and
- oil and natural gas production taxes — $407.9 million, up 62.2 percent from July 2017.
For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch.
