Sales Tax Collection in Texas Sees Increase For the Month of April

Texas Comptroller Glenn Hegar says that the sales tax collection in Texas has increased for the month of April. The sales tax revenue reportedly totaled to $4.09 billion which is 6.7% higher than in April 2022.

Texas Comptroller Glenn Hegar says that the state of Texas is seeing an increase in sales tax collection for the month of April. The sales tax revenue for this month reportedly totaled to $4.09 billion which is 6.7% higher than in the same month last year.

An article in Yahoo News states that Texas was also ahead in the amount collected for the month of March. Last month, the amount in sales tax collection totaled to $3.57 billion which is 5.9% higher than in the same month last year. These figures are reportedly based on the sales made from local businesses last February and reported to the comptroller’s office last March.

Despite the rising interest rates and the fear of recession in the U.S., the economy of the state of Texas continues to improve based on the increase in sales tax collection. Hegar states that the biggest increase continues to come from the sectors that are mainly driven by business expenses.

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Sales Tax Collection in April

According to Sechler, majority of the sales tax collection from April is also based on the sales made from local businesses last month and reported to the comptroller’s office in April. Among the businesses, remittances from the oil and gas sector showed the biggest increase among all sectors in comparison to the remittances from April 2022. This is because the remittances have increased for almost up to 50% for four consecutive months.

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