Increase in Sales Tax Revenue

TEXAS – According to Susan Combs, Texas Comptroller, the state’s sales tax revenue was up 18.5 percent compared to August of last year.

“The strong business and consumer spending trend boosted the monthly sales tax revenue, as did money remitted at the close of the state’s tax amnesty which ended in August. The state’s sales tax revenue for fiscal 2012 was $24.1 billion, about 12.6 percent higher than the previous fiscal year. Collections from business sectors such as the oil and natural gas industry and consumer sectors including retail trade increased sales tax revenue for the fiscal year,” said Combs.