Texas Continues To Feel the Squeeze From Oil & Gas
Texas – State sales tax revenue had a total of 2.32 billion in April, up 3% compared to April in 2015.
State Comptroller Hegar said, “Growth in sales tax revenue was led by remittances from the retail trade and construction sectors. As expected, receipts from oil and gas-related sectors continued to fall due to the ongoing decline in drilling activity.”
Compared to a year ago, sales tax revenue over the past 3 months is down 0.8%. Sales tax revenue accounts for 56% of all state tax collections.
About Davis & Davis LLC – Sales Tax Experts: Headquartered in Dallas, Texas, Davis & Davis LLC – Sales Tax Experts specializes in sales/use tax audit consulting and audit defense. Our team of consultants is comprised of former Big 4 sales tax consultants and state sales tax auditors. Each of our consultants has 15 to 20 years of experience, providing our clients with access to a highly specialized team of sales/use tax professionals. At Davis & Davis we are committed to maintaining the highest standards in our talent pool. We work hard to meet our clients’ needs by ensuring that you view our firm as an extension of your company and a member of your team.
For sales/use tax compliance questions or audit related concerns, we are here to help!
Contact us at:
Or call today for a consultation: