State of Texas continues to receive record amounts of sales tax revenue and production taxes from crude oil and natural gas. Texas comptroller Glenn Hegar said Aug. 1 state sales tax revenue totaled $3.88 billion in July – highest monthly collections on record and 14.7 percent more than July 2021. The majority of July sales tax revenue is based on sales made in June and remitted to the agency in July.
“July state sales tax collections showed continued vigorous growth from non-retail sectors,” Hegar said. “The sharpest increase from a year ago was once again in receipts from oil and gas mining, but receipts from construction, manufacturing and wholesale trade sectors also were up by double digits for the eighth consecutive month.”
Texas also collected $694 million in oil production taxes in July – highest monthly collections on record and up 84 percent from July 2021. And the state collected $532 million in gas production taxes – highest monthly collections on record and up 185 percent from July 2021.