EL PASO, Texas (KTSM) – The majority of April sales tax revenue is based on sales made in March and the Texas Comptroller reports a total of $3,83 billion, 12.8 percent more than April 2021.
Sales tax is the largest source of state funding for the state budget, accounting for 59 percent of all tax collections. Total sales tax revenue for the three months ending in April 2022 was up 22.3 percent compared to the same period a year ago.
“The strongest growth was in receipts from sectors driven by business spending, particularly the oil and gas mining sector, which surpassed pre-pandemic levels as capital spending in the sector picks up. Receipts from the construction, manufacturing and wholesale trade sectors continued to show double-digit growth”Texas Comptroller Glenn Hegar.
“Among sectors driven by consumer spending, the strongest growth in receipts was in arts and recreation services, with receipts from sporting events, music and other live entertainment, and fitness clubs far exceeding previous year levels. Receipts from restaurants continued to exhibit double-digit growth as well.
“Receipts from retail trade remain elevated, though only a little higher than a year ago when retail spending surged after the end of COVID restrictions. Slowing growth in receipts from retail trade may signal shifts in consumer spending back toward pre-pandemic patterns. Growth in spending in segments that had benefited during the pandemic appeared to stall, as receipts from home improvement and furniture stores changed little from a year ago, while receipts from sporting goods and hobby stores declined.”
Texas collected the following revenue from other major taxes:
|motor vehicle sales and rental taxes||$525 million||up 39 percent from April 2021|
|motor fuel taxes||$335 million||up 3 percent from April 2021|
|oil production tax||$666 million||the highest monthly collections on record, up 99 percent from April 2021|
|natural gas production tax||$339 million||up 46 percent from April 2021|
|hotel occupancy tax||$76 million||the highest monthly collections on record, up 49 percent from April 2021|
|alcoholic beverage taxes||$152 million||the highest monthly collections on record, up 27 percent from April 2021|
For details on all monthly collections, visit the Comptroller’s Monthly State Revenue Watch. For an extensive history of tax policy developments and fees since 1972, visit our updated Sources of Revenue publication.