NTMWD 2025 Summer

State sales tax revenue totals $3.7 billion

by | Jun 9, 2022 | Latest

Texas Comptroller Glenn Hegar announced state sales tax revenues totaled $3.69 billion in May, an 8.6% increase from May 2021.

“Strong, double-digit growth was seen once again in sectors driven primarily by business spending, with receipts from the oil and gas mining sector continuing to exhibit particularly robust growth compared to a year ago,” Hegar said. “Receipts from the construction and wholesale trade sectors also continue to show strong growth.”

Hegar said receipts from the services sector posted another substantial gain compared to the same month last year. Spending at sporting events and concerts was especially strong last month, Hegar said.

Additionally, restaurant receipts were also up compared to May 2021.

“Increases in these consumer-driven sectors, coupled with a decrease in receipts from the furniture and general merchandise sectors compared to a year ago, may further indicate that sectors that benefitted from pandemic spending patterns will face continued headwinds due to a shift in consumer spending patterns from goods to services,” Hegar said.

Total sales tax revenue for the three months ending in May 2022 was up 15.7% compared to the same period a year ago. Sales tax is the largest source of state funding for the budget, accounting for 59% of all tax collections.

Motor vehicle sales and rental taxes collected were $603 million, up 9% from May 2021.

Fuel taxes were $319 million, up 1% from last year.

Oil production taxes were at $595 million, up 64% from May 2021.

Natural gas production taxes were $413 million, the highest collections on record and up 216% from last year.

Hotel occupancy taxes were $69 million, up 44% from May 2021.

Lastly, alcoholic beverage taxes were at $154 million, up 22% from last year.

The majority of May sales tax revenue is based on sales made in April and remitted to the agency in May.

Collin Summer 2025

Deprecated: Creation of dynamic property ET_Builder_Module_Comments::$et_pb_unique_comments_module_class is deprecated in /home/csmediatexas/wylienews/wp-content/themes/Divi/includes/builder/class-et-builder-element.php on line 1380

0 Comments

Subscribe RH Love

Related News

Potential measles exposure in Collin County

Potential measles exposure in Collin County

Collin County Health Care Services has been notified that an individual who spent time in Collin County from Saturday, May 31, through Sunday, June 1, has tested positive for measles. The individual visited two public venues while infectious: • Lemma Coffee Company,...

read more
Three charged in local burglary

Three charged in local burglary

The Wylie Police Department has charged three teen-agers in connection with the burglary of a convenience store, a police spokesman said.  Sgt. Donald English said an 18-year-old man and two juveniles have been charged with engaging in organized criminal activity...

read more
City’s annual budget process continues

City’s annual budget process continues

The city of  Wylie continues work on its fiscal year 2025-26 budget development process with a series of public meetings and work sessions that will extend into late August, culminating in the adoption of the city’s new budget and tax rate. The approved budget...

read more
Exotic cat rescue celebrates milestone

Exotic cat rescue celebrates milestone

Kylo Ren, a tiger born at In-Sync Exotics in 2018, enjoys playing with a colorful cardboard tube (AKA light saber) in his pool during the annual Birthday Bash Saturday, June 7. Photo by Dave Smith for In-Sync Exotics After 25 years of rescuing and rehabilitating...

read more
Wylie ISD proposes $291M budget for 2025-26

Wylie ISD proposes $291M budget for 2025-26

Wylie Independent School District (Wylie ISD) has proposed a $291.2 million budget for the 2025–26 school year, reflecting a 0.45% decrease from the 2024–25 amended budget. District trustees are scheduled to adopt the budget on June 16, following a required public...

read more
Order photos