Texas lobbyist political news: Texas Sales Tax Revenue Up 12.6 Percent!
The following is a digest of an original article from the Austin American Statesman and figures from the State Comptroller’s website. The Texas Lobby group is posting this summary as a public service for all lobbyists in Texas, political analysts and strategists, government consultants, and other interested parties.
The fiscal year for Texas ends in August. This year the comptroller’s office is reporting an increase of 12.6% in sales tax revenue. That increase means an additional 1.6 billion dollars in income OVER projections. Figuring all tax income sources, Texas is about 3.7 billion ahead of estimates.
As an example, August sales taxes were up 18.5 percent compared to a year ago. As expected, the oil and gas industry is a major part of this, but a strong retail performance is credited as well.
Complete data on Texas tax revenue is available at the state Comptroller’s office.