Texas Comptroller Glenn Hegar today said state sales tax revenue totaled $3.01 billion in May, 9 percent more than in May 2018.
“State sales tax revenue growth was propelled by both business and consumer spending,” Hegar said. “The strongest growth was in remittances from the manufacturing, wholesale trade and services sectors, with strength apparent in the retail trade sector as well.”
Hegar also said state franchise tax revenue for May was $3.47 billion. Revenue was up 7.4 percent from May 2018, slightly above projections presented in the Biennial Revenue Estimate in January.
Total sales tax revenue for the three months ending in May 2019 was up 6.9 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 May 2019, Texas collected the following revenue from other major taxes:
• motor vehicle sales and rental taxes — $429.5 million, up 1.3 percent from May 2018;
• motor fuel taxes — $316 million, up 2 percent from May 2018;
• natural gas production taxes — $129 million, up 28.4 percent from May 2018; and
• oil production taxes — $367.3 million, up 16.2 percent from May 2018.